Castleark Management LLC Makes New $364,000 Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Castleark Management LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,750 shares of the company's stock, valued at approximately $364,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the 4th quarter worth about $25,000. Steward Partners Investment Advisory LLC raised its holdings 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 buying an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Astera Labs in the fourth quarter worth approximately $28,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs in the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC grew its holdings in shares of 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 buying an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALAB. Stifel Nicolaus lowered their price objective on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Susquehanna started coverage on Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price for the company. Evercore ISI upped their price target on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a report on Wednesday. Craig Hallum increased their price objective on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Finally, Roth Capital set a $100.00 target price on Astera Labs and gave the stock a "buy" rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Astera Labs currently has an average rating of "Buy" and an average target price of $100.00.

Insider Transactions at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 3,809 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $90.67, for a total value of $345,362.03. Following the completion of the sale, the general counsel now owns 187,596 shares in the company, valued at $17,009,329.32. This represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Michael Truett Tate sold 125,800 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 852,640 shares of company stock worth $69,893,694 in the last 90 days.

Astera Labs Stock Down 2.4%

Astera Labs stock opened at $92.17 on Thursday. 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 $15.20 billion, a P/E ratio of -53.28, a P/E/G ratio of 6.18 and a beta of 0.33. The business has a 50-day simple moving average of $68.03 and a two-hundred day simple moving average of $92.42.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same period in the previous year, the business posted $0.10 earnings per share. The firm's quarterly revenue was up 144.1% compared to the same quarter last year. Research analysts anticipate 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.

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