Naviter Wealth LLC Takes $331,000 Position in Astera Labs, Inc. (NASDAQ:ALAB)

Naviter Wealth LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,500 shares of the company’s stock, valued at approximately $331,000.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC boosted its position in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after acquiring an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Astera Labs in the third quarter valued at about $530,000. Avior Wealth Management LLC bought a new stake in shares of Astera Labs in the third quarter valued at about $361,000. Maverick Capital Ltd. boosted its position 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 acquiring an additional 159,480 shares during the period. Finally, Bank of Hawaii bought a new stake in shares of Astera Labs in the third quarter valued at about $1,409,000. Institutional investors own 60.47% of the company’s stock.

Insider Activity

In other news, General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction that occurred on 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 owns 191,209 shares of the company’s stock, valued at $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock valued at $50,242,702 over the last quarter.

Wall Street Analyst Weigh In

ALAB has been the subject of several recent analyst reports. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Stifel Nicolaus upped their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Finally, Morgan Stanley cut 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 analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $115.33.

Astera Labs Trading Up 5.4 %

Shares of NASDAQ ALAB opened at $66.92 on Friday. The company has a market cap of $10.85 billion and a price-to-earnings ratio of -38.68. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a 50-day moving average price of $104.47 and a two-hundred day moving average price of $87.44.

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 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%. On average, sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share 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.