Gen Wealth Partners Inc Purchases Shares of 792 Astera Labs, Inc. (NASDAQ:ALAB)

Gen Wealth Partners Inc acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, HoldingsChannel reports. The fund acquired 792 shares of the company’s stock, valued at approximately $105,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALAB. Vanguard Group Inc. increased its stake in Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after purchasing an additional 3,760,765 shares during the period. Jennison Associates LLC acquired a new stake in Astera Labs during the 4th quarter worth approximately $229,991,000. Lord Abbett & CO. LLC raised its holdings in Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after buying an additional 1,384,498 shares during the period. Finally, Norges Bank acquired a new position in Astera Labs during the fourth quarter valued at approximately $179,229,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ALAB. Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Roth Capital set a $100.00 price objective on Astera Labs and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC decreased their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday. Stifel Nicolaus reduced their price target on Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, Morgan Stanley decreased their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $100.85.

Astera Labs Price Performance

NASDAQ ALAB opened at $71.20 on Friday. The company’s fifty day moving average price is $64.32 and its two-hundred day moving average price is $91.58. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of -41.16, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. 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 Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The company’s revenue for the quarter was up 144.1% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. As a group, analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Astera Labs

In other news, General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the transaction, the general counsel now directly owns 241,209 shares of the company’s stock, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Manuel Alba sold 63,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the sale, the director now owns 444,863 shares in the company, valued at $28,190,968.31. The trade was a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 633,990 shares of company stock worth $54,235,012.

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.