Cetera Investment Advisers Purchases New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Cetera Investment Advisers bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,473 shares of the company's stock, valued at approximately $460,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after purchasing an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the last quarter. Jennison Associates LLC purchased a new stake in Astera Labs in the 4th quarter worth about $229,991,000. Lord Abbett & CO. LLC boosted its position in Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after acquiring an additional 1,384,498 shares during the period. Finally, Norges Bank acquired a new stake in Astera Labs during the 4th quarter worth about $179,229,000. Institutional investors own 60.47% of the company's stock.

Astera Labs Stock Down 7.1%

NASDAQ ALAB traded down $6.82 during trading on Friday, hitting $89.79. The company's stock had a trading volume of 11,134,642 shares, compared to its average volume of 4,044,568. The firm has a 50 day moving average price of $71.39 and a 200 day moving average price of $92.63. The firm has a market cap of $14.81 billion, a P/E ratio of -51.90, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 EPS 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 negative return on equity of 10.40% and a negative net margin of 21.05%. The company's revenue for the quarter was up 144.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. On average, equities analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of research reports. Stifel Nicolaus decreased their price objective on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective for the company. Susquehanna initiated coverage on Astera Labs in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 price objective for the company. Needham & Company LLC decreased their price objective on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Craig Hallum raised their price target on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. One 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's stock. According to MarketBeat.com, Astera Labs presently has a consensus rating of "Buy" and a consensus price target of $100.00.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now owns 444,863 shares of the company's stock, valued at approximately $28,190,968.31. This trade represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.05, for a total value of $5,328,750.00. Following the sale, the chief executive officer now directly owns 575,000 shares in the company, valued at $40,853,750. The trade was a 11.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 891,840 shares of company stock valued at $75,722,670 in the last three months.

Astera Labs 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.