Astera Labs, Inc. (NASDAQ:ALAB) Stock Holdings Trimmed by Comerica Bank

Comerica Bank decreased its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 94.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,916 shares of the company's stock after selling 247,337 shares during the quarter. Comerica Bank's holdings in Astera Labs were worth $2,108,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the 4th quarter valued at about $25,000. Steward Partners Investment Advisory LLC increased its stake in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Astera Labs during the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. bought a new stake in Astera Labs during the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC lifted its position in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares during the period. 60.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares of the company's stock, valued at $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the transaction, the general counsel now owns 241,209 shares in the company, valued at $22,208,112.63. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 633,990 shares of company stock valued at $54,235,012.

Astera Labs Stock Performance

ALAB stock opened at $71.20 on Friday. The stock has a market cap of $11.74 billion, a P/E ratio of -41.16, a P/E/G ratio of 6.18 and a beta of 0.33. The firm has a 50 day simple moving average of $64.32 and a 200 day simple moving average of $91.42. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Astera Labs's revenue for the quarter was up 144.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. Sell-side analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on ALAB. Roth Capital set a $100.00 price objective on Astera Labs and gave the stock a "buy" rating in a research note on Wednesday. Stifel Nicolaus cut their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Barclays raised their target price on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $100.85.

Astera Labs Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.

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