Emerald Advisers LLC Acquires 4,457 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Emerald Advisers LLC grew its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 41.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,245 shares of the company's stock after acquiring an additional 4,457 shares during the period. Emerald Advisers LLC's holdings in Astera Labs were worth $910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its stake in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs in the fourth quarter valued at approximately $25,000. Hoey Investments Inc. lifted its position in shares of Astera Labs by 4.2% in the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock valued at $298,000 after buying an additional 200 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after acquiring an additional 204 shares during the period. Finally, Allworth Financial LP increased its holdings in shares of Astera Labs by 20.4% during the 1st quarter. Allworth Financial LP now owns 1,394 shares of the company's stock worth $90,000 after acquiring an additional 236 shares during the last quarter. Institutional investors own 60.47% of the company's stock.

Insider Buying and Selling at Astera Labs

In related news, insider Sanjay Gajendra sold 165,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.76, for a total value of $11,840,400.00. Following the sale, the insider directly owned 755,000 shares of the company's stock, valued at $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Truett Tate sold 500,000 shares of Astera Labs stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $90.23, for a total value of $45,115,000.00. Following the completion of the transaction, the chief financial officer owned 618,996 shares in the company, valued at approximately $55,852,009.08. This represents a 44.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,965,984 shares of company stock worth $178,631,873 over the last three months.

Astera Labs Stock Down 5.8%

Shares of ALAB traded down $5.58 during trading hours on Monday, hitting $90.32. 5,509,093 shares of the company were exchanged, compared to its average volume of 4,683,796. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The company has a market cap of $14.90 billion, a price-to-earnings ratio of 410.56, a P/E/G ratio of 4.50 and a beta of 1.18. The firm's fifty day moving average is $90.47 and its 200 day moving average is $87.75.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same period last year, the firm earned $0.10 EPS. The business's quarterly revenue was up 144.1% compared to the same quarter last year. Analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALAB. Wall Street Zen downgraded Astera Labs from a "buy" rating to a "hold" rating in a report on Saturday. Needham & Company LLC cut their target price 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 lifted their target price on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Citigroup lowered their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI boosted their price objective on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Astera Labs has a consensus rating of "Moderate Buy" and an average price target 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.