IMA Advisory Services Inc. Invests $347,000 in Astera Labs, Inc. (NASDAQ:ALAB)

IMA Advisory Services Inc. bought a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,813 shares of the company's stock, valued at approximately $347,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALAB. HighTower Advisors LLC acquired a new stake in Astera Labs during the fourth quarter valued at approximately $821,000. Commonwealth Equity Services LLC acquired a new stake in Astera Labs during the fourth quarter valued at approximately $1,693,000. Thrivent Financial for Lutherans acquired a new stake in Astera Labs during the fourth quarter valued at approximately $540,000. TD Private Client Wealth LLC acquired a new stake in Astera Labs during the fourth quarter valued at approximately $148,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Astera Labs in the 4th quarter valued at approximately $1,020,000. Institutional investors own 60.47% of the company's stock.

Astera Labs Trading Up 1.8%

ALAB stock traded up $2.20 during trading on Thursday, hitting $121.68. 3,311,780 shares of the stock traded hands, compared to its average volume of 5,230,069. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The stock has a market cap of $20.07 billion, a price-to-earnings ratio of 553.12, a P/E/G ratio of 5.61 and a beta of 1.18. The company has a 50 day simple moving average of $95.39 and a 200 day simple moving average of $86.49.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly 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 net margin of 8.44% and a return on equity of 2.57%. The firm had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. During the same period last year, the firm posted $0.10 EPS. The firm's quarterly revenue was up 144.1% on a year-over-year basis. As a group, analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALAB shares. Jefferies Financial Group increased their target price on shares of Astera Labs from $95.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays raised their target price on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Wall Street Zen lowered shares of Astera Labs from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. William Blair started coverage on shares of Astera Labs in a research note on Thursday, May 22nd. They issued an "outperform" rating on the stock. Finally, Northland Capmk downgraded shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $102.67.

Insider Activity at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 500,000 shares of the firm's 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 sale, the chief financial officer owned 618,996 shares in the company, valued at approximately $55,852,009.08. This trade represents a 44.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 128,250 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $90.02, for a total transaction of $11,545,065.00. Following the completion of the sale, the chief executive officer owned 541,125 shares of the company's stock, valued at $48,712,072.50. The trade was a 19.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,181,759 shares of company stock valued at $200,883,431 in the last ninety days.

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.