Venturi Wealth Management LLC Takes Position in Astera Labs, Inc. $ALAB

Key Points

• Venturi Wealth Management LLC acquired a new stake in Astera Labs, purchasing 3,200 shares valued at approximately $289,000 in Q2 2023.
• Astera Labs reported a 149.5% year-over-year revenue increase in its latest quarterly earnings, with an EPS of $0.44, surpassing analysts' expectations.
• Astera Labs has received mixed ratings from analysts, with a consensus price target of $159.83, as 15 analysts rated the stock as a "Buy" while 8 rated it as a "Hold."

Venturi Wealth Management LLC purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 3,200 shares of the company's stock, valued at approximately $289,000.

Other hedge funds have also modified their holdings of the company. Fred Alger Management LLC increased its stake in shares of Astera Labs by 13.0% during the 1st quarter. Fred Alger Management LLC now owns 1,560,033 shares of the company's stock worth $93,087,000 after purchasing an additional 179,638 shares in the last quarter. Hoey Investments Inc. increased its stake in shares of Astera Labs by 22.4% during the 2nd quarter. Hoey Investments Inc. now owns 6,121 shares of the company's stock worth $553,000 after purchasing an additional 1,121 shares in the last quarter. Wealth Effects LLC purchased a new position in shares of Astera Labs during the 2nd quarter worth approximately $242,000. Realta Investment Advisors purchased a new position in shares of Astera Labs during the 2nd quarter worth approximately $214,000. Finally, Sheets Smith Wealth Management purchased a new position in shares of Astera Labs during the 2nd quarter worth approximately $481,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

ALAB stock opened at $206.21 on Friday. Astera Labs, Inc. has a one year low of $47.13 and a one year high of $262.90. The company has a 50 day moving average price of $198.72 and a two-hundred day moving average price of $124.17. The stock has a market capitalization of $34.28 billion, a P/E ratio of 368.23, a PEG ratio of 5.62 and a beta of 1.43.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The company had revenue of $191.93 million during the quarter, compared to analysts' expectations of $172.46 million. During the same period in the previous year, the company earned $0.13 EPS. The business's quarterly revenue was up 149.5% compared to the same quarter last year. Astera Labs has set its Q3 2025 guidance at 0.380-0.390 EPS. Research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Northland Securities cut shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price objective for the company. in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. CICC Research assumed coverage on shares of Astera Labs in a research note on Friday, August 29th. They issued an "outperform" rating and a $190.00 target price for the company. Wall Street Zen cut shares of Astera Labs from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Finally, TD Cowen assumed coverage on shares of Astera Labs in a research note on Wednesday, October 1st. They issued a "hold" rating and a $200.00 target price for the company. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Astera Labs currently has an average rating of "Moderate Buy" and a consensus price target of $159.83.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 10,000 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $192.16, for a total transaction of $1,921,600.00. Following the completion of the sale, the general counsel directly owned 151,573 shares of the company's stock, valued at $29,126,267.68. The trade was a 6.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jitendra Mohan sold 91,441 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $183.51, for a total transaction of $16,780,337.91. Following the sale, the chief executive officer directly owned 2,170,877 shares of the company's stock, valued at $398,377,638.27. This represents a 4.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,308,772 shares of company stock worth $214,482,678. 12.50% of the stock is owned by corporate insiders.

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.

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