OneDigital Investment Advisors LLC Purchases New Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

OneDigital Investment Advisors LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,600 shares of the company's stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Straight Path Wealth Management acquired a new stake in shares of Astera Labs in the 1st quarter worth about $403,000. Vontobel Holding Ltd. grew its position in Astera Labs by 113.4% in the 1st quarter. Vontobel Holding Ltd. now owns 43,576 shares of the company's stock valued at $2,600,000 after buying an additional 23,156 shares in the last quarter. Taylor Frigon Capital Management LLC bought a new position in Astera Labs in the 1st quarter valued at about $1,887,000. Essex Financial Services Inc. grew its position in Astera Labs by 3.2% in the 1st quarter. Essex Financial Services Inc. now owns 25,746 shares of the company's stock valued at $1,536,000 after buying an additional 807 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Astera Labs by 25.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 12,157 shares of the company's stock valued at $725,000 after buying an additional 2,458 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Down 1.0%

Astera Labs stock traded down $0.91 during trading hours on Wednesday, hitting $91.45. The stock had a trading volume of 2,609,240 shares, compared to its average volume of 4,378,820. 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 $15.08 billion, a price-to-earnings ratio of 416.10, a P/E/G ratio of 4.24 and a beta of 1.18. The business's 50 day simple moving average is $91.25 and its 200-day simple moving average is $87.42.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The company 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 company earned $0.10 earnings per share. The firm's revenue was up 144.1% compared to the same quarter last year. Research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. William Blair assumed coverage on shares of Astera Labs in a research report on Thursday, May 22nd. They set an "outperform" rating for the company. Stifel Nicolaus reduced their price objective on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Evercore ISI raised their price objective on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Barclays raised their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, Needham & Company LLC decreased their target price 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. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $100.00.

Insiders Place Their Bets

In other Astera Labs news, CEO Jitendra Mohan sold 11,282 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $102.46, for a total value of $1,155,953.72. Following the completion of the sale, the chief executive officer owned 509,174 shares of the company's stock, valued at approximately $52,169,968.04. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Manuel Alba sold 30,991 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $91.13, for a total value of $2,824,209.83. Following the completion of the sale, the director directly owned 418,863 shares of the company's stock, valued at $38,170,985.19. This trade represents a 6.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,965,984 shares of company stock worth $178,631,873.

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.