Focus Partners Wealth Has $56.87 Million Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Focus Partners Wealth boosted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 20.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,342 shares of the company's stock after purchasing an additional 73,708 shares during the period. Focus Partners Wealth owned 0.27% of Astera Labs worth $56,866,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALAB. Steward Partners Investment Advisory LLC grew its stake in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth $25,000. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth $28,000. GAMMA Investing LLC grew its stake in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock worth $68,000 after purchasing an additional 224 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock worth $630,000 after acquiring an additional 237 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on ALAB. Roth Capital set a $100.00 target price on Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Citigroup reduced their target price on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays lifted their target price on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Stifel Nicolaus reduced their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Astera Labs has an average rating of "Buy" and an average target price of $99.69.

Astera Labs Stock Performance

ALAB traded up $2.90 on Wednesday, hitting $90.66. 6,101,832 shares of the company were exchanged, compared to its average volume of 3,905,977. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The company has a market cap of $14.95 billion, a PE ratio of -52.40, a PEG ratio of 6.18 and a beta of 0.33. The stock's fifty day moving average is $65.04 and its 200-day moving average is $91.76.

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, topping 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 business 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 company posted $0.10 earnings per share. Astera Labs's revenue was up 144.1% on a year-over-year basis. As a group, equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the transaction, the general counsel now owns 241,209 shares of the company's stock, valued at $22,208,112.63. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 75,000 shares of the business's stock in a transaction that occurred 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 directly owns 575,000 shares in the company, valued at approximately $40,853,750. This trade represents a 11.54% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 873,990 shares of company stock worth $71,404,162.

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.