Stratos Wealth Partners LTD. Grows Position in Astera Labs, Inc. (NASDAQ:ALAB)

Stratos Wealth Partners LTD. grew its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 138.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,323 shares of the company's stock after purchasing an additional 13,562 shares during the period. Stratos Wealth Partners LTD.'s holdings in Astera Labs were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs in the fourth quarter worth approximately $25,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after buying an additional 99 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in shares of Astera Labs during the fourth quarter worth about $43,000. Sound Income Strategies LLC increased its position in Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after purchasing an additional 204 shares during the period. Finally, GAMMA Investing LLC increased its position in 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 purchasing an additional 284 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 128,250 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $90.02, for a total transaction of $11,545,065.00. Following the completion of the sale, the chief executive officer directly owned 541,125 shares of the company's stock, 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 filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 500,000 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer owned 618,996 shares in the company, valued at approximately $55,852,009.08. This trade represents a 44.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,965,984 shares of company stock valued at $178,631,873.

Astera Labs Trading Up 2.3%

NASDAQ ALAB traded up $2.04 during trading on Tuesday, hitting $92.36. The company had a trading volume of 3,068,064 shares, compared to its average volume of 4,376,874. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a market cap of $15.23 billion, a price-to-earnings ratio of 419.84, a price-to-earnings-growth ratio of 4.50 and a beta of 1.18. The company's fifty day moving average is $90.83 and its 200-day moving average is $87.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. Astera Labs's revenue for the quarter was up 144.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. As a group, equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup decreased their price objective on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus cut their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Barclays boosted their price objective on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Wall Street Zen lowered Astera Labs from a "buy" rating to a "hold" rating in a report on Saturday. Finally, 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 research report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $100.00.

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.