First Horizon Advisors Inc. Sells 150 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

First Horizon Advisors Inc. decreased its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 16.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 780 shares of the company’s stock after selling 150 shares during the period. First Horizon Advisors Inc.’s holdings in Astera Labs were worth $103,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP raised its holdings in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares in the last quarter. Strategic Blueprint LLC increased its position in shares of Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after purchasing an additional 195 shares during the last quarter. US Bancorp DE purchased a new stake in Astera Labs in the third quarter valued at approximately $46,000. Realta Investment Advisors bought a new stake in Astera Labs during the third quarter valued at approximately $244,000. Finally, Janney Capital Management LLC bought a new stake in Astera Labs during the third quarter valued at approximately $388,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $83.00 on Thursday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm has a market cap of $13.46 billion and a PE ratio of -47.98. The business has a 50 day moving average price of $114.01 and a 200-day moving average price of $86.02.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Astera Labs

In other news, CFO Michael Truett Tate sold 167,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $102.94, for a total transaction of $17,190,980.00. Following the transaction, the chief financial officer now directly owns 1,595,888 shares of the company’s stock, valued at approximately $164,280,710.72. The trade was a 9.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 702,190 shares of company stock worth $66,714,568.

Analyst Ratings Changes

ALAB has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus boosted their target price on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $115.33.

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.