SeaCrest Wealth Management LLC Makes New $690,000 Investment in Astera Labs, Inc. (NASDAQ:ALAB)

SeaCrest Wealth Management LLC purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALABFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,211 shares of the company’s stock, valued at approximately $690,000.

Several other hedge funds have also made changes to their positions in the business. Hollencrest Capital Management acquired a new position in Astera Labs in the third quarter valued at $26,000. ORG Wealth Partners LLC purchased a new stake in Astera Labs in the 4th quarter valued at about $42,000. US Bancorp DE acquired a new position in shares of Astera Labs during the 3rd quarter valued at about $46,000. First Horizon Advisors Inc. purchased a new position in shares of Astera Labs during the 3rd quarter worth about $49,000. Finally, Allworth Financial LP boosted its position in shares of Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Stock Down 2.9 %

ALAB opened at $127.90 on Friday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The company has a fifty day simple moving average of $118.21 and a 200 day simple moving average of $75.65.

Astera Labs (NASDAQ:ALABGet Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The firm’s quarterly revenue was up 47.1% compared to the same quarter last year. Equities research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum boosted their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Northland Securities downgraded Astera Labs from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $100.00 to $120.00 in a report on Thursday, January 2nd. Finally, Northland Capmk cut Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Astera Labs has a consensus rating of “Moderate Buy” and an average price target of $105.75.

View Our Latest Analysis on Astera Labs

Insiders Place Their Bets

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This trade represents a 27.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the sale, the insider now owns 775,000 shares in the company, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock worth $167,581,256 in the last three months.

About Astera Labs

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Astera Labs (NASDAQ:ALAB)

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