Arete Wealth Advisors LLC Invests $1.05 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Arete Wealth Advisors LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,950 shares of the company’s stock, valued at approximately $1,053,000.

Several other hedge funds have also recently added to or reduced their stakes in ALAB. Vanguard Group Inc. increased its holdings in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after purchasing an additional 7,186,582 shares during the period. Alliancebernstein L.P. grew its position in Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after buying an additional 3,760,765 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after buying an additional 792,153 shares during the period. Jennison Associates LLC bought a new stake in shares of Astera Labs during the 4th quarter worth about $229,991,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Astera Labs by 418.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company’s stock worth $221,721,000 after acquiring an additional 1,351,007 shares during the period. Institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ALAB shares. Raymond James initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective on the stock. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research note on Tuesday, January 28th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Craig Hallum boosted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley reduced their price objective on shares of 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. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and an average target price of $112.77.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 34,474 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the completion of the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at approximately $22,487,360.94. This trade represents a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the transaction, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 633,990 shares of company stock worth $54,235,012.

Astera Labs Stock Down 4.9 %

Shares of NASDAQ:ALAB opened at $52.94 on Friday. The company has a market cap of $8.58 billion and a P/E ratio of -30.60. The company’s fifty day moving average is $78.49 and its two-hundred day moving average is $90.43. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted 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%. Equities research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current 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.