StoneCrest Wealth Management Inc. Makes New $319,000 Investment in Astera Labs, Inc. (NASDAQ:ALAB)

StoneCrest Wealth Management Inc. purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,348 shares of the company's stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wealth Management Partners LLC purchased a new stake in Astera Labs in the first quarter worth about $715,000. Rhumbline Advisers increased its position in Astera Labs by 4.4% in the first quarter. Rhumbline Advisers now owns 104,345 shares of the company's stock worth $6,226,000 after buying an additional 4,396 shares in the last quarter. GAMMA Investing LLC increased its position in Astera Labs by 9,189.8% in the first quarter. GAMMA Investing LLC now owns 47,378 shares of the company's stock worth $28,270,000 after buying an additional 46,868 shares in the last quarter. California State Teachers Retirement System increased its position in Astera Labs by 2,495.8% in the fourth quarter. California State Teachers Retirement System now owns 41,740 shares of the company's stock worth $5,528,000 after buying an additional 40,132 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Astera Labs in the fourth quarter worth about $475,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Analysts Set New Price Targets

ALAB has been the subject of a number of analyst reports. Evercore ISI upped their price target on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Citigroup cut their target price on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 target price for the company. Stifel Nicolaus cut their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Needham & Company LLC cut their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Astera Labs currently has a consensus rating of "Buy" and a consensus target price of $100.00.

Insider Buying and Selling at Astera Labs

In other news, COO Sanjay Gajendra sold 88,627 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $98.11, for a total value of $8,695,194.97. Following the completion of the sale, the chief operating officer now directly owns 724,257 shares of the company's stock, valued at $71,056,854.27. This trade represents a 10.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jitendra Mohan sold 75,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.05, for a total value of $5,328,750.00. Following the completion of the sale, the chief executive officer now directly owns 575,000 shares of the company's stock, valued at $40,853,750. The trade was a 11.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,495,267 shares of company stock worth $131,012,865 in the last quarter.

Astera Labs Price Performance

NASDAQ ALAB opened at $90.75 on Friday. The stock has a market capitalization of $14.97 billion, a PE ratio of -52.46, a P/E/G ratio of 6.18 and a beta of 1.39. The business has a 50 day simple moving average of $74.44 and a two-hundred day simple moving average of $92.68. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The firm's revenue for the quarter was up 144.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. On average, analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Astera Labs 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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