31,627 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 31,627 shares of the company's stock, valued at approximately $1,887,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs in the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC lifted its stake in Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Global Retirement Partners LLC lifted its stake 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 last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Astera Labs in the fourth quarter worth $43,000. Finally, NewEdge Advisors LLC bought a new stake in Astera Labs in the fourth quarter worth $63,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 600 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $100.00, for a total transaction of $60,000.00. Following the sale, the director now owns 436,563 shares in the company, valued at $43,656,300. This represents a 0.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sanjay Gajendra sold 165,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the sale, the insider now owns 755,000 shares in the company, valued at approximately $54,178,800. The trade was a 17.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,751,729 shares of company stock worth $156,008,250.

Astera Labs Stock Performance

Shares of ALAB opened at $91.02 on Monday. The stock has a market cap of $15.01 billion, a PE ratio of 413.75, a price-to-earnings-growth ratio of 4.28 and a beta of 1.39. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm's 50-day simple moving average is $84.75 and its two-hundred day simple moving average is $90.62.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The business's revenue was up 144.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 earnings per share. Equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ALAB shares. Needham & Company LLC lowered their price objective on shares of 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 shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Citigroup lowered their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wall Street Zen raised shares of Astera Labs from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, Susquehanna started coverage on shares of Astera Labs in a research note on Friday, May 16th. They set a "neutral" rating and a $80.00 price objective for the company. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $100.00.

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.

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