Pacific Point Advisors LLC Purchases Shares of 4,000 Astera Labs, Inc. (NASDAQ:ALAB)

Pacific Point Advisors LLC purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,000 shares of the company's stock, valued at approximately $530,000.

Other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs during the 4th quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC grew its holdings in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Astera Labs during the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 60.47% of the company's stock.

Insider Transactions at Astera Labs

In other news, General Counsel Philip Mazzara sold 25,000 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $90.13, for a total value of $2,253,250.00. Following the completion of the transaction, the general counsel now directly owns 162,596 shares of the company's stock, valued at approximately $14,654,777.48. The trade was a 13.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 852,640 shares of company stock valued at $69,893,694.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Susquehanna assumed coverage on Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price for the company. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a report on Monday, May 12th. Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Stifel Nicolaus dropped their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Citigroup dropped their target price on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Astera Labs currently has a consensus rating of "Buy" and an average price target of $100.00.

Astera Labs Stock Performance

NASDAQ ALAB traded up $2.92 on Tuesday, reaching $97.54. 3,553,317 shares of the stock traded hands, compared to its average volume of 3,986,892. The company has a fifty day moving average price of $69.50 and a 200-day moving average price of $92.49. The company has a market cap of $16.09 billion, a price-to-earnings ratio of -56.38, a PEG ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share 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 analyst estimates of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Astera Labs's revenue was up 144.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. As a group, research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

About Astera Labs

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.