Wealthedge Investment Advisors LLC Invests $351,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Wealthedge Investment Advisors LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,650 shares of the company's stock, valued at approximately $351,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the 4th quarter valued at about $25,000. Steward Partners Investment Advisory LLC increased its position in shares of Astera Labs by 99.0% in 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 acquired a new stake in shares of Astera Labs during the fourth quarter worth approximately $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Stock Down 7.1%

Shares of ALAB traded down $6.82 during midday trading on Friday, reaching $89.79. 11,134,642 shares of the stock were exchanged, compared to its average volume of 4,035,014. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The company has a market cap of $14.81 billion, a P/E ratio of -51.90, a PEG ratio of 6.18 and a beta of 0.33. The stock's 50 day simple moving average is $71.39 and its 200 day simple moving average is $92.58.

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

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the completion of the transaction, the chief executive officer now owns 575,000 shares of the company's stock, valued at $40,853,750. The trade was a 11.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the sale, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 891,840 shares of company stock valued at $75,722,670.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Stifel Nicolaus reduced 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 report on Thursday, April 17th. Morgan Stanley upgraded shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a research report on Monday, May 12th. Evercore ISI increased their price target on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Finally, Barclays increased their target price on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $100.00.

Astera Labs Company 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.