Atria Investments Inc Buys New Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Atria Investments Inc purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, HoldingsChannel reports. The fund purchased 2,285 shares of the company’s stock, valued at approximately $303,000.

Several other institutional investors have also bought and sold shares of ALAB. Steward Partners Investment Advisory LLC grew its position in 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 bought a new stake in shares of Astera Labs in the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter worth approximately $36,000. Global Retirement Partners LLC boosted its holdings in shares of Astera Labs by 3,155.6% in the 4th 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. Finally, ORG Wealth Partners LLC bought a new position in shares of Astera Labs during the 4th quarter valued at approximately $42,000. Institutional investors own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Raymond James initiated coverage on shares of Astera Labs in a report on Friday. They issued an “outperform” rating and a $82.00 target price for the company. Citigroup began coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Astera Labs presently has an average rating of “Buy” and a consensus target price of $112.77.

Astera Labs Stock Down 0.2 %

Shares of NASDAQ:ALAB opened at $72.05 on Tuesday. The business’s 50 day moving average is $96.18 and its 200 day moving average is $88.79. The stock has a market cap of $11.68 billion and a P/E ratio of -41.65. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its 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 return on equity of 10.40% and a negative net margin of 21.05%. On average, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares of the company’s stock, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the company’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 sale, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 over the last three months.

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.