Circle Wealth Management LLC Acquires 4,092 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Circle Wealth Management LLC raised its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 56.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,323 shares of the company's stock after purchasing an additional 4,092 shares during the quarter. Circle Wealth Management LLC's holdings in Astera Labs were worth $1,500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALAB. Vanguard Group Inc. lifted its position in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after buying an additional 3,760,765 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after buying an additional 792,153 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after buying an additional 1,384,498 shares during the period. Finally, Jennison Associates LLC bought a new stake in shares of Astera Labs during the fourth quarter worth $229,991,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Price Performance

NASDAQ:ALAB traded down $0.44 during trading hours on Friday, reaching $71.20. 2,694,193 shares of the stock were exchanged, compared to its average volume of 3,859,134. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The stock has a market cap of $11.74 billion, a PE ratio of -41.16, a PEG ratio of 6.18 and a beta of 0.33. The firm has a 50 day moving average of $64.32 and a 200 day moving average of $91.58.

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

Insider Activity at Astera Labs

In other Astera Labs news, Director Manuel Alba sold 63,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now directly owns 444,863 shares of the company's stock, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the transaction, the general counsel now directly owns 241,209 shares of the company's stock, valued at approximately $22,208,112.63. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 633,990 shares of company stock valued at $54,235,012.

Analyst Ratings Changes

A number of brokerages recently commented on ALAB. Raymond James began coverage on Astera Labs in a research report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective for the company. Morgan Stanley cut their price objective on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the company a "buy" rating in a report on Wednesday. Finally, Needham & Company LLC decreased their price target on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $100.85.

About Astera Labs

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.