Mount Yale Investment Advisors LLC Sells 8,392 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Mount Yale Investment Advisors LLC decreased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 74.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,947 shares of the company’s stock after selling 8,392 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Astera Labs were worth $390,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALAB. FMR LLC boosted its holdings in shares of Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after purchasing an additional 153,491 shares during the last quarter. Fred Alger Management LLC increased its holdings in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Astera Labs by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after buying an additional 47,569 shares in the last quarter. Maverick Capital Ltd. boosted its stake in Astera Labs by 16.0% during 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 last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Astera Labs during the 3rd quarter valued at approximately $52,049,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALAB. Deutsche Bank Aktiengesellschaft upped their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Roth Mkm upped their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Northland Capmk cut shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Craig Hallum increased their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.42.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $89.63 on Wednesday. The firm has a 50-day simple moving average of $122.86 and a 200-day simple moving average of $79.28. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Activity at Astera Labs

In other news, Director Manuel Alba sold 11,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the sale, the director now owns 456,863 shares in the company, valued at approximately $53,681,402.50. This represents a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 1,412,888 shares in the company, valued at $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock valued at $167,581,256 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.