LPL Financial LLC Buys 27,726 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Key Points

• LPL Financial LLC increased its stake in Astera Labs by 51% during the first quarter, acquiring an additional 27,726 shares, bringing their total holdings to 82,128 shares valued at approximately $4.9 million.
• Astera Labs has shown strong revenue growth, reporting a 149.5% year-over-year increase in revenue to $191.93 million in its latest quarterly earnings release.
• Insider selling included CEO Jitendra Mohan and CFO Michael Truett Tate, who sold shares valued at over $71 million, representing significant reductions in their ownership stakes.

LPL Financial LLC grew its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 51.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,128 shares of the company's stock after acquiring an additional 27,726 shares during the period. LPL Financial LLC's holdings in Astera Labs were worth $4,901,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Freemont Management S.A. bought a new stake in shares of Astera Labs during the first quarter valued at approximately $5,460,000. Pacer Advisors Inc. bought a new stake in Astera Labs during the 1st quarter valued at $29,935,000. Neo Ivy Capital Management purchased a new stake in shares of Astera Labs in the 1st quarter worth $105,000. IMA Advisory Services Inc. purchased a new stake in shares of Astera Labs in the 1st quarter worth $347,000. Finally, Pier 88 Investment Partners LLC bought a new position in shares of Astera Labs during the 1st quarter worth $493,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $193.64 on Thursday. The stock has a market cap of $32.19 billion, a PE ratio of 345.79, a price-to-earnings-growth ratio of 4.87 and a beta of 1.39. The firm has a fifty day moving average price of $111.59 and a 200 day moving average price of $88.77. Astera Labs, Inc. has a 1 year low of $36.85 and a 1 year high of $199.47.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. The business had revenue of $191.93 million during the quarter, compared to analyst estimates of $172.46 million. During the same quarter last year, the business posted $0.13 EPS. The company's revenue was up 149.5% on a year-over-year basis. As a group, equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Astera Labs

In related news, CEO Jitendra Mohan sold 152,517 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $170.33, for a total transaction of $25,978,220.61. Following the sale, the chief executive officer directly owned 450,001 shares of the company's stock, valued at approximately $76,648,670.33. This represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Michael Truett Tate sold 500,000 shares of Astera Labs stock in a transaction on Friday, May 30th. The shares were sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the completion of the transaction, the chief financial officer directly owned 618,996 shares of the company's stock, valued at $55,852,009.08. The trade was a 44.68% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,425,276 shares of company stock valued at $272,127,521. 12.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on ALAB. William Blair started coverage on Astera Labs in a report on Thursday, May 22nd. They issued an "outperform" rating for the company. Evercore ISI increased their price objective on shares of Astera Labs from $104.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Astera Labs from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Northland Capmk lowered Astera Labs from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their price target on Astera Labs from $125.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $129.13.

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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