Warm Springs Advisors Inc. Invests $3.31 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Warm Springs Advisors Inc. purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 25,000 shares of the company's stock, valued at approximately $3,311,000. Astera Labs makes up 3.1% of Warm Springs Advisors Inc.'s holdings, making the stock its 10th biggest holding.

Several other large investors have also made changes to their positions in ALAB. Park Avenue Securities LLC acquired a new position in shares of Astera Labs in the fourth quarter valued at $500,000. Wesbanco Bank Inc. acquired a new stake in shares of Astera Labs in the 4th quarter valued at approximately $331,000. Berbice Capital Management LLC acquired a new stake in shares of Astera Labs in the 4th quarter valued at approximately $86,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs in the 4th quarter valued at approximately $36,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of Astera Labs in the 4th quarter valued at approximately $224,000. Institutional investors own 60.47% of the company's stock.

Astera Labs Price Performance

Astera Labs stock traded up $2.92 during mid-day trading on Tuesday, reaching $97.54. 3,556,810 shares of the stock traded hands, compared to its average volume of 3,986,919. The business's 50-day moving average is $69.50 and its 200-day moving average is $92.49. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The stock has a market capitalization of $16.09 billion, a PE ratio of -56.38, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The firm had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business's quarterly revenue was up 144.1% compared to the same quarter last year. Equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Susquehanna started coverage on shares of Astera Labs in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 price objective for the company. Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Needham & Company LLC dropped their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $100.00.

Insider Transactions at Astera Labs

In other news, General Counsel Philip Mazzara sold 3,809 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $90.67, for a total value of $345,362.03. Following the completion of the transaction, the general counsel now owns 187,596 shares of the company's stock, valued at $17,009,329.32. The trade was a 1.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction on 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 directly owns 575,000 shares in the company, valued at $40,853,750. This represents a 11.54% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 852,640 shares of company stock worth $69,893,694.

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.