Astera Labs, Inc. (NASDAQ:ALAB) Holdings Trimmed by Strategic Blueprint LLC

Strategic Blueprint LLC lowered its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 55.5% in the first quarter, according to its most recent 13F filing with the SEC. The fund 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 quarter.

A number of other institutional investors have also modified their holdings of the stock. 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 valued at $26,000 after acquiring an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs in the fourth quarter valued at about $25,000. Hoey Investments Inc. lifted its position in Astera Labs by 4.2% in the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock valued at $298,000 after purchasing an additional 200 shares during the period. Sound Income Strategies LLC lifted its position 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 boosted its stake in shares of Astera Labs by 55.7% during 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.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ALAB shares. Citigroup cut their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Roth Capital set a $100.00 price target on Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. Needham & Company LLC cut their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target for the company in a report on Monday, May 12th. Finally, Stifel Nicolaus dropped their price objective on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $100.00.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 165,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the sale, the insider directly owned 755,000 shares in the company, valued at approximately $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Truett Tate sold 500,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the sale, the chief financial officer owned 618,996 shares of the company's stock, valued at $55,852,009.08. The trade was a 44.68% 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 Trading Up 2.7%

ALAB traded up $2.47 on Wednesday, hitting $94.77. 782,010 shares of the company's stock were exchanged, compared to its average volume of 4,306,712. The firm has a market cap of $15.63 billion, a PE ratio of 435.43, a P/E/G ratio of 4.21 and a beta of 1.18. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The stock has a fifty day moving average of $88.73 and a two-hundred day moving average of $89.03.

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