Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by Dakota Wealth Management

Dakota Wealth Management raised its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,581 shares of the company's stock after purchasing an additional 4,471 shares during the quarter. Dakota Wealth Management's holdings in Astera Labs were worth $2,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its position in shares of Astera Labs by 69.6% in the first quarter. SBI Securities Co. Ltd. now owns 21,264 shares of the company's stock worth $1,269,000 after acquiring an additional 8,727 shares during the period. Peregrine Investment Management Inc. raised its holdings in Astera Labs by 85.7% in the 1st quarter. Peregrine Investment Management Inc. now owns 150,000 shares of the company's stock worth $8,950,000 after purchasing an additional 69,210 shares during the period. CWM LLC boosted its position in Astera Labs by 297.4% during the first quarter. CWM LLC now owns 3,755 shares of the company's stock worth $224,000 after purchasing an additional 2,810 shares in the last quarter. Stephens Inc. AR purchased a new position in Astera Labs during the first quarter worth approximately $6,330,000. Finally, Emerald Advisers LLC grew its holdings in Astera Labs by 41.3% in the first quarter. Emerald Advisers LLC now owns 15,245 shares of the company's stock valued at $910,000 after purchasing an additional 4,457 shares during the period. 60.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Manuel Alba sold 30,991 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $91.13, for a total transaction of $2,824,209.83. Following the transaction, the director owned 418,863 shares of the company's stock, valued at approximately $38,170,985.19. This represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jitendra Mohan sold 11,282 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $102.46, for a total value of $1,155,953.72. Following the completion of the transaction, the chief executive officer owned 509,174 shares of the company's stock, valued at $52,169,968.04. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,965,984 shares of company stock worth $178,631,873.

Astera Labs Trading Down 5.8%

ALAB stock opened at $90.32 on Tuesday. The company's 50-day moving average price is $90.83 and its 200 day moving average price is $87.39. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The company has a market cap of $14.90 billion, a P/E ratio of 410.56, a P/E/G ratio of 4.50 and a beta of 1.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly 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 return on equity of 2.57% and a net margin of 8.44%. The business had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same quarter last year, the business posted $0.10 earnings per share. The business's revenue for the quarter was up 144.1% on a year-over-year basis. On average, equities research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on ALAB. Needham & Company LLC reduced 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 report on Wednesday, May 7th. Stifel Nicolaus reduced their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Wall Street Zen lowered shares of Astera Labs from a "buy" rating to a "hold" rating in a research note on Saturday. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective on the stock in a report on Monday, May 12th. Finally, Barclays increased their target price on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $100.00.

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.

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