11,981 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Wealth Management Partners LLC

Wealth Management Partners LLC purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,981 shares of the company's stock, valued at approximately $715,000.

A number of other large investors have also made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the 4th quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC grew its stake in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC grew its stake in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after acquiring an additional 284 shares during the period. Finally, Trifecta Capital Advisors LLC purchased a new position in Astera Labs in the 4th quarter worth approximately $43,000. 60.47% of the stock is currently owned by institutional investors.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 75,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.05, for a total value of $5,328,750.00. Following the transaction, the chief executive officer now owns 575,000 shares of the company's stock, valued at $40,853,750. This represents a 11.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the completion of the transaction, the insider now directly owns 755,000 shares in the company, valued at $54,178,800. This trade represents a 17.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,495,267 shares of company stock worth $131,012,865.

Astera Labs Stock Performance

Shares of ALAB traded up $0.04 during mid-day trading on Friday, hitting $90.75. 2,844,256 shares of the stock were exchanged, compared to its average volume of 4,080,411. The company has a market cap of $14.97 billion, a PE ratio of -52.46, a price-to-earnings-growth ratio of 6.18 and a beta of 1.39. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm has a 50-day moving average of $74.44 and a two-hundred day moving average of $92.57.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the prior year, the firm posted $0.10 EPS. Astera Labs's quarterly revenue was up 144.1% compared to the same quarter last year. On average, sell-side analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

ALAB has been the topic of a number of research analyst reports. William Blair initiated coverage on Astera Labs in a report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Craig Hallum boosted their price target on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Citigroup lowered their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Evercore ISI boosted their price target on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Finally, Morgan Stanley raised Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a report on Monday, May 12th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Astera Labs presently has an average rating of "Buy" and an average target price of $100.00.

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.