Simplicity Wealth LLC Purchases Shares of 14,389 Astera Labs, Inc. (NASDAQ:ALAB)

Simplicity Wealth LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,389 shares of the company's stock, valued at approximately $859,000.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs during the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC lifted its position in 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 purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Astera Labs during the fourth quarter valued at about $28,000. Global Retirement Partners LLC grew its holdings in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after purchasing an additional 284 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Astera Labs in the fourth quarter worth about $43,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALAB. Needham & Company LLC cut their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Barclays upped their price objective on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Raymond James initiated coverage on Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 target price on the stock. Morgan Stanley raised Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a report on Monday, May 12th. Finally, Citigroup cut their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $100.00.

Insider Buying and Selling at Astera Labs

In other news, CFO Michael Truett Tate sold 500,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the sale, the chief financial officer now directly owns 618,996 shares of the company's stock, valued at $55,852,009.08. This represents a 44.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Sanjay Gajendra sold 88,627 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $98.11, for a total value of $8,695,194.97. Following the sale, the chief operating officer now directly owns 724,257 shares of the company's stock, valued at $71,056,854.27. This represents a 10.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,495,267 shares of company stock worth $131,012,865 over the last ninety days.

Astera Labs Stock Down 0.2%

Shares of NASDAQ ALAB traded down $0.20 during trading on Thursday, hitting $94.34. 2,850,075 shares of the company traded hands, compared to its average volume of 4,097,605. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a market capitalization of $15.56 billion, a P/E ratio of -54.53, a P/E/G ratio of 6.18 and a beta of 1.39. The company has a 50-day moving average price of $76.55 and a 200-day moving average price of $92.51.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The company 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%. The company's revenue for the quarter was up 144.1% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. Research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Astera Labs Company 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.