Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Seven Grand Managers LLC

Seven Grand Managers LLC reduced its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 60.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,000 shares of the company’s stock after selling 75,000 shares during the period. Astera Labs makes up approximately 3.0% of Seven Grand Managers LLC’s investment portfolio, making the stock its 16th biggest holding. Seven Grand Managers LLC’s holdings in Astera Labs were worth $6,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs in the 4th quarter worth $25,000. Steward Partners Investment Advisory LLC raised its stake in shares of 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 purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new stake in Astera Labs in the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC boosted its position in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after buying an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Trading Up 1.7%

Shares of ALAB opened at $92.19 on Friday. The firm has a market cap of $15.20 billion, a P/E ratio of -53.29, a PEG 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. The stock’s 50 day moving average is $66.13 and its two-hundred day moving average is $91.88.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million for the quarter, compared to analysts’ expectations of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm’s revenue for the quarter was up 144.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. Equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Citigroup lowered their price target on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Raymond James initiated coverage on Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective for the company. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. Finally, Needham & Company LLC dropped their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $99.69.

Insider Activity

In related news, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares in the company, valued at approximately $22,208,112.63. The trade was a 3.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction that occurred 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 trade represents a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 873,990 shares of company stock worth $71,404,162 over the last 90 days.

About Astera Labs

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.