Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 113.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,576 shares of the company's stock after acquiring an additional 23,156 shares during the quarter. Vontobel Holding Ltd.'s holdings in Astera Labs were worth $2,600,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its position in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the fourth quarter worth approximately $25,000. Hoey Investments Inc. boosted its stake in Astera Labs by 4.2% during the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock worth $298,000 after buying an additional 200 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Astera Labs by 34.7% during the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after buying an additional 204 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Astera Labs by 55.7% during the first quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after buying an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Astera Labs

In other Astera Labs news, COO Sanjay Gajendra sold 76,373 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $98.39, for a total transaction of $7,514,339.47. Following the completion of the transaction, the chief operating officer owned 715,000 shares of the company's stock, valued at approximately $70,348,850. This trade represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Manuel Alba sold 20,150 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $100.84, for a total value of $2,031,926.00. Following the transaction, the director directly owned 432,854 shares of the company's stock, valued at $43,648,997.36. The trade was a 4.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,688,729 shares of company stock worth $152,015,940.

Astera Labs Stock Up 2.7%

NASDAQ ALAB traded up $2.36 during trading hours on Friday, hitting $90.93. 2,438,903 shares of the company were exchanged, compared to its average volume of 4,317,188. The company has a 50 day moving average of $87.73 and a two-hundred day moving average of $89.55. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 413.31, a PEG ratio of 4.27 and a beta of 1.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 2.57% and a net margin of 8.44%. Astera Labs's revenue was up 144.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 EPS. On average, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays upped their price target on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Evercore ISI upped their price target on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Roth Capital set a $100.00 price target on Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. 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 research note on Monday, May 12th. Finally, William Blair assumed coverage on Astera Labs in a research note on Thursday, May 22nd. They issued an "outperform" rating on the stock. One equities 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 company. Based on data from MarketBeat, Astera Labs has a consensus rating of "Buy" and an average 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.