Virtu Financial LLC Sells 25,645 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Key Points

• Virtu Financial LLC dramatically reduced its holdings in Astera Labs by 75.9%, selling 25,645 shares and leaving it with 8,125 shares valued at $485,000.
• Astera Labs reported a 149.5% increase in year-over-year revenue, totaling $191.93 million, and EPS of $0.44, exceeding analyst expectations.
• Multiple analysts set new price targets for Astera Labs, with Barclays raising its target to $155 and Evercore ISI to $215, reflecting growing confidence in the stock.

Virtu Financial LLC decreased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 75.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,125 shares of the company's stock after selling 25,645 shares during the quarter. Virtu Financial LLC's holdings in Astera Labs were worth $485,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its position 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 purchasing an additional 284 shares during the last quarter. Sound Income Strategies LLC increased its holdings 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 worth $47,000 after acquiring an additional 204 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Astera Labs by 351.7% during the 1st quarter. Harbour Investments Inc. now owns 795 shares of the company's stock worth $47,000 after acquiring an additional 619 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Astera Labs during the 1st quarter worth approximately $48,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in shares of Astera Labs by 1,670.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 885 shares of the company's stock worth $53,000 after acquiring an additional 835 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Stock Down 2.5%

Shares of NASDAQ:ALAB traded down $4.84 during trading on Friday, reaching $185.85. 4,142,180 shares of the company traded hands, compared to its average volume of 7,077,603. The company's 50 day moving average is $115.49 and its two-hundred day moving average is $90.17. The firm has a market capitalization of $30.89 billion, a PE ratio of 331.88, a PEG ratio of 4.84 and a beta of 1.39. Astera Labs, Inc. has a 52 week low of $36.85 and a 52 week high of $199.47.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.11. The firm had revenue of $191.93 million during the quarter, compared to the consensus estimate of $172.46 million. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. The company's revenue was up 149.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. As a group, research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, Director Manuel Alba sold 13,259 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $111.00, for a total transaction of $1,471,749.00. Following the completion of the sale, the director directly owned 1,874,498 shares in the company, valued at $208,069,278. This represents a 0.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stefan A. Dyckerhoff sold 25,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $173.42, for a total value of $4,335,500.00. Following the sale, the director owned 99,154 shares of the company's stock, valued at approximately $17,195,286.68. This represents a 20.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,329,686 shares of company stock worth $273,512,376. 12.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Northland Capmk lowered Astera Labs from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Northland Securities lowered Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 target price on the stock. in a report on Tuesday, July 22nd. Needham & Company LLC boosted their target price on Astera Labs from $100.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Morgan Stanley boosted their price target on Astera Labs from $125.00 to $155.00 and gave the company an "overweight" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen upgraded Astera Labs from a "hold" rating to a "buy" rating in a research note on Saturday. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $129.13.

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.