Tidal Investments LLC Sells 13,342 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Tidal Investments LLC decreased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 29.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,956 shares of the company's stock after selling 13,342 shares during the period. Tidal Investments LLC's holdings in Astera Labs were worth $4,233,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs during the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC increased its position 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 acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Astera Labs during the fourth quarter worth $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs in the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC grew its position in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 60.47% of the company's stock.

Astera Labs Price Performance

Shares of ALAB opened at $94.46 on Wednesday. The firm has a 50-day moving average of $67.63 and a 200-day moving average of $92.42. 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 $15.58 billion, a PE ratio of -54.60, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33.

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 analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. During the same quarter last year, the firm posted $0.10 EPS. The company's quarterly revenue was up 144.1% on a year-over-year basis. Analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several recent research reports. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Stifel Nicolaus lowered their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley upgraded 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. Roth Capital set a $100.00 price target on Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $98.29.

Insider Activity

In other news, CEO Jitendra Mohan sold 75,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the completion of the sale, the chief executive officer now owns 575,000 shares in the company, valued at approximately $40,853,750. This trade represents a 11.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Truett Tate sold 9,107 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $90.67, for a total transaction of $825,731.69. Following the sale, the chief financial officer now owns 235,135 shares of the company's stock, valued at approximately $21,319,690.45. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 774,390 shares of company stock valued at $62,721,629 in the last quarter.

About Astera Labs

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.

Want to see what other hedge funds are holding ALAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astera Labs, Inc. (NASDAQ:ALAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.