Strategic Blueprint LLC Lowers Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Strategic Blueprint LLC lowered its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 55.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,327 shares of the company's stock after selling 5,399 shares during the quarter. Strategic Blueprint LLC's holdings in Astera Labs were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC purchased a new position in Astera Labs in the 1st quarter worth approximately $215,000. Straight Path Wealth Management purchased a new position in Astera Labs in the 1st quarter worth approximately $403,000. Vontobel Holding Ltd. lifted its holdings in Astera Labs by 113.4% in the 1st quarter. Vontobel Holding Ltd. now owns 43,576 shares of the company's stock worth $2,600,000 after purchasing an additional 23,156 shares in the last quarter. Taylor Frigon Capital Management LLC purchased a new position in Astera Labs in the 1st quarter worth approximately $1,887,000. Finally, Essex Financial Services Inc. lifted its holdings in Astera Labs by 3.2% in the 1st quarter. Essex Financial Services Inc. now owns 25,746 shares of the company's stock worth $1,536,000 after purchasing an additional 807 shares in the last quarter. Institutional investors own 60.47% of the company's stock.

Insider Transactions at Astera Labs

In other news, CEO Jitendra Mohan sold 128,250 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $90.02, for a total value of $11,545,065.00. Following the transaction, the chief executive officer directly owned 541,125 shares in the company, valued at approximately $48,712,072.50. This represents a 19.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the transaction, the insider owned 755,000 shares in the company, valued at approximately $54,178,800. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,800,984 shares of company stock worth $162,361,223.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of research reports. Roth Capital set a $100.00 price objective on Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Stifel Nicolaus reduced their price objective on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Evercore ISI lifted 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. William Blair initiated coverage on Astera Labs in a research note on Thursday, May 22nd. They issued an "outperform" rating on the stock. Finally, Susquehanna initiated coverage on Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Astera Labs has a consensus rating of "Buy" and an average target price of $100.00.

Astera Labs Trading Down 1.2%

Shares of NASDAQ ALAB traded down $1.12 during trading hours on Friday, hitting $95.90. 2,879,503 shares of the company traded hands, compared to its average volume of 4,364,439. The stock has a market capitalization of $15.82 billion, a price-to-earnings ratio of 435.93, a price-to-earnings-growth ratio of 4.56 and a beta of 1.18. The company's 50 day moving average price is $89.98 and its 200 day moving average price is $88.83. 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 released its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to analyst estimates 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 was up 144.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.10 earnings per share. Equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current 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.