Astera Labs, Inc. (NASDAQ:ALAB) Stock Position Lowered by Virtus Wealth Solutions LLC

Virtus Wealth Solutions LLC reduced its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 39.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,700 shares of the company’s stock after selling 29,194 shares during the quarter. Astera Labs accounts for 0.8% of Virtus Wealth Solutions LLC’s investment portfolio, making the stock its 17th biggest holding. Virtus Wealth Solutions LLC’s holdings in Astera Labs were worth $2,667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs in the 4th quarter valued at about $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Astera Labs by 99.0% during 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. Global Retirement Partners LLC boosted its position in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Astera Labs in the fourth quarter valued at about $43,000. Finally, Principal Securities Inc. acquired a new position in Astera Labs in the 4th quarter worth about $55,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ALAB. Citigroup lowered their price target on Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Raymond James Financial assumed coverage on shares of Astera Labs in a report on Friday, March 14th. They set an “outperform” rating and a $82.00 price target on the stock. Stifel Nicolaus decreased their price objective on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 17th. William Blair initiated coverage on Astera Labs in a report on Thursday, May 22nd. They set an “outperform” rating on the stock. Finally, Needham & Company LLC decreased their price target on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and an average price target of $100.00.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 75,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.05, for a total value of $5,328,750.00. Following the completion of the sale, the chief executive officer now owns 575,000 shares in the company, valued at approximately $40,853,750. This trade represents a 11.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the transaction, the director now directly owns 444,863 shares of the company’s stock, valued at approximately $28,190,968.31. This represents 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 1,751,043 shares of company stock worth $155,948,245.

Astera Labs Trading Up 2.7%

Shares of Astera Labs stock opened at $89.63 on Thursday. The stock has a market capitalization of $14.78 billion, a price-to-earnings ratio of 407.43, a P/E/G ratio of 4.10 and a beta of 1.39. The firm’s 50-day moving average price is $83.33 and its two-hundred day moving average price is $91.41. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. Astera Labs’s revenue was up 144.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. As a group, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.