Virtu Financial LLC Takes $4.47 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

Virtu Financial LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,770 shares of the company’s stock, valued at approximately $4,473,000.

Several other hedge funds also recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its position 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 valued at $26,000 after acquiring an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs in the fourth quarter valued at $25,000. Kestra Investment Management LLC acquired a new position in shares of Astera Labs in the fourth quarter valued at $28,000. GAMMA Investing LLC raised its stake in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after purchasing an additional 237 shares in the last quarter. 60.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALAB shares. Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. Barclays increased their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Stifel Nicolaus increased their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Raymond James assumed 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. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $112.77.

Astera Labs Stock Performance

Shares of ALAB stock opened at $71.10 on Friday. The stock’s fifty day moving average is $91.24 and its 200-day moving average is $88.89. The stock has a market capitalization of $11.53 billion and a PE ratio of -41.10. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results 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%. As a group, analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Astera Labs

In related news, General Counsel Philip Mazzara sold 7,536 shares of the firm’s 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 transaction, the general counsel now owns 241,209 shares in the company, valued at $22,208,112.63. This trade represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares in the company, valued at approximately $20,157,292.26. This trade represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock worth $50,242,702 over the last 90 days.

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.