Astera Labs, Inc. (NASDAQ:ALAB) Stock Holdings Increased by Pacific Point Advisors LLC

Pacific Point Advisors LLC increased its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 75.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,000 shares of the company's stock after buying an additional 3,000 shares during the period. Pacific Point Advisors LLC's holdings in Astera Labs were worth $418,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ALAB. US Bancorp DE boosted its position in Astera Labs by 627.4% during the fourth quarter. US Bancorp DE now owns 6,350 shares of the company's stock valued at $841,000 after purchasing an additional 5,477 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Astera Labs by 12.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 132,472 shares of the company's stock worth $17,546,000 after purchasing an additional 15,008 shares during the last quarter. Victory Capital Management Inc. raised its position in Astera Labs by 13.6% during the fourth quarter. Victory Capital Management Inc. now owns 15,216 shares of the company's stock valued at $2,015,000 after acquiring an additional 1,826 shares in the last quarter. Finally, Atria Investments Inc purchased a new position in Astera Labs during the fourth quarter valued at approximately $303,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen upgraded Astera Labs from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Evercore ISI boosted their price objective on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Raymond James Financial began coverage on Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective on the stock. Susquehanna began coverage on Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target on the stock. Finally, Barclays upped their price target on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $100.00.

Insiders Place Their Bets

In related news, Director Bethany Mayer sold 686 shares of Astera Labs stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $87.47, for a total value of $60,004.42. Following the transaction, the director owned 6,238 shares in the company, valued at approximately $545,637.86. This trade represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 $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 90 days, insiders have sold 1,782,720 shares of company stock valued at $160,506,999.

Astera Labs Stock Down 2.8%

Shares of NASDAQ:ALAB traded down $2.84 during midday trading on Thursday, reaching $97.02. The company's stock had a trading volume of 6,411,301 shares, compared to its average volume of 4,344,334. The firm has a market cap of $16.00 billion, a price-to-earnings ratio of 441.02, a price-to-earnings-growth ratio of 4.34 and a beta of 1.18. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The business has a 50 day moving average price of $89.42 and a 200 day moving average price of $89.10.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The business's revenue for the quarter was up 144.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share. Sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.