Strategic Blueprint LLC Sells 5,399 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

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

Other hedge funds also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC lifted its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs in the fourth quarter worth about $25,000. Hoey Investments Inc. lifted its position in shares of Astera Labs by 4.2% during the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock valued at $298,000 after buying an additional 200 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock valued at $47,000 after acquiring an additional 204 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Astera Labs by 55.7% in the 1st quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after acquiring an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Analysts Set New Price Targets

ALAB has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a report on Wednesday, May 21st. Roth Capital set a $100.00 price target on Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. William Blair initiated coverage on shares of Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating for the company. Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price on the stock in a report on Monday, May 12th. Finally, Needham & Company LLC cut their target price on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $100.00.

Insider Buying and Selling at Astera Labs

In other news, CFO Michael Truett Tate sold 500,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the completion of the sale, the chief financial officer directly owned 618,996 shares of the company's stock, valued at approximately $55,852,009.08. The trade was a 44.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjay Gajendra sold 165,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the sale, the insider directly owned 755,000 shares of the company's stock, valued at approximately $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,782,720 shares of company stock worth $160,506,999 over the last quarter.

Astera Labs Stock Down 3.5%

ALAB traded down $3.54 on Thursday, hitting $96.32. The company had a trading volume of 5,435,353 shares, compared to its average volume of 4,340,672. The business's fifty day simple moving average is $89.42 and its 200 day simple moving average is $89.10. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The company has a market cap of $15.89 billion, a PE ratio of 439.22, a PEG ratio of 4.34 and a beta of 1.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 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 firm had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the previous year, the business earned $0.10 EPS. The company's quarterly revenue was up 144.1% on a year-over-year basis. On average, 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.