Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Scientech Research LLC

Scientech Research LLC grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 52.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,691 shares of the company's stock after acquiring an additional 3,681 shares during the quarter. Scientech Research LLC's holdings in Astera Labs were worth $1,416,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its holdings in 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 buying an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs in the fourth quarter worth about $25,000. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the fourth quarter worth about $28,000. CIBC Asset Management Inc raised its stake 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 purchasing an additional 237 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new position in Astera Labs during the fourth quarter worth about $36,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Needham & Company LLC decreased their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Barclays upped their price target on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Raymond James initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target for the company. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $98.29.

Insider Transactions at Astera Labs

In other news, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the transaction, the general counsel now directly owns 191,209 shares of the company's stock, valued at approximately $16,723,139.14. This represents a 20.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 75,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $90.90, for a total value of $6,817,500.00. Following the transaction, the chief executive officer now directly owns 562,500 shares of the company's stock, valued at approximately $51,131,250. This trade represents a 11.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 904,480 shares of company stock worth $74,123,601.

Astera Labs Stock Up 4.6%

NASDAQ:ALAB traded up $4.17 during trading hours on Tuesday, reaching $94.46. 4,376,559 shares of the company's stock were exchanged, compared to its average volume of 3,940,971. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of -54.60, a P/E/G ratio of 6.18 and a beta of 0.33. The company has a 50-day moving average of $67.05 and a 200 day moving average of $92.40. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Astera Labs's quarterly revenue was up 144.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 EPS. Research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

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.