Astera Labs, Inc. (NASDAQ:ALAB) Holdings Increased by IFP Advisors Inc

Key Points

• IFP Advisors Inc significantly increased its stake in Astera Labs, acquiring 2,490 shares to bring its total to 2,560 shares, valued at approximately $153,000.
• Astera Labs reported a quarterly EPS of $0.33, exceeding estimates, and a revenue of $159.44 million, reflecting a year-over-year increase of 144.1%.
• Recent insider transactions revealed significant share sales, including CFO Michael Truett Tate selling 500,000 shares, indicating a 44.68% decrease in his holdings.

IFP Advisors Inc grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 3,557.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,560 shares of the company's stock after acquiring an additional 2,490 shares during the period. IFP Advisors Inc's holdings in Astera Labs were worth $153,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Alliancebernstein L.P. increased its stake in Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after buying an additional 3,760,765 shares during the period. JPMorgan Chase & Co. grew its holdings in Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after acquiring an additional 792,153 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Astera Labs by 418.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock worth $221,721,000 after acquiring an additional 1,351,007 shares in the last quarter. Finally, Norges Bank acquired a new position in Astera Labs during the 4th quarter worth $179,229,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Insider Activity

In other Astera Labs news, Director Manuel Alba sold 13,259 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $111.00, for a total transaction of $1,471,749.00. Following the sale, the director directly owned 1,874,498 shares in the company, valued at approximately $208,069,278. The trade was a 0.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sanjay Gajendra sold 165,000 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $98.61, for a total transaction of $16,270,650.00. Following the sale, the chief operating officer owned 695,000 shares in the company, valued at $68,533,950. This trade represents a 19.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,181,759 shares of company stock valued at $200,883,431.

Analyst Ratings Changes

ALAB has been the subject of several recent analyst reports. Susquehanna initiated coverage on shares of Astera Labs in a 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 shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Barclays raised their price objective 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. Finally, Northland Securities lowered shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price target for the company. in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Astera Labs presently has a consensus rating of "Moderate Buy" and an average target price of $104.40.

Astera Labs Trading Down 2.4%

NASDAQ:ALAB traded down $3.33 during mid-day trading on Friday, hitting $133.40. The stock had a trading volume of 3,825,535 shares, compared to its average volume of 4,805,452. The stock has a market capitalization of $22.00 billion, a price-to-earnings ratio of 606.65, a P/E/G ratio of 6.05 and a beta of 1.18. The company has a 50 day simple moving average of $98.76 and a 200-day simple moving average of $86.34. 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 data on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. Astera Labs's quarterly revenue was up 144.1% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. As a group, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.