Astera Labs, Inc. (NASDAQ:ALAB) Stock Position Boosted by Essex Financial Services Inc.

Essex Financial Services Inc. raised its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,939 shares of the company’s stock after buying an additional 468 shares during the period. Essex Financial Services Inc.’s holdings in Astera Labs were worth $3,303,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC raised its holdings in Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Astera Labs during the 3rd quarter valued at $530,000. Avior Wealth Management LLC bought a new stake in shares of Astera Labs in the 3rd quarter worth $361,000. Maverick Capital Ltd. lifted its holdings in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after buying an additional 159,480 shares during the period. Finally, Bank of Hawaii bought a new position in Astera Labs during the third quarter valued at about $1,409,000. 60.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ALAB shares. JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum upped their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. 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 research note on Tuesday, January 28th. Finally, Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Astera Labs presently has an average rating of “Buy” and a consensus price target of $107.42.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the sale, the chief financial officer now directly owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Philip Mazzara sold 2,513 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares in the company, valued at $22,588,533.45. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 846,452 shares of company stock worth $86,427,256.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $103.29 on Tuesday. The firm has a fifty day moving average of $122.39 and a two-hundred day moving average of $82.15. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. On average, equities analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

Astera Labs 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.