Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 29.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,211 shares of the company’s stock after selling 2,603 shares during the period. Van ECK Associates Corp’s holdings in Astera Labs were worth $823,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Strategic Blueprint LLC boosted its position in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after purchasing an additional 195 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Astera Labs by 78.3% during the 4th 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. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the 4th quarter valued at about $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after purchasing an additional 284 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Astera Labs during the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALAB. Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Citigroup began coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm raised their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus raised their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $115.33.

Astera Labs Stock Performance

ALAB stock opened at $85.72 on Friday. The stock has a market cap of $13.90 billion and a P/E ratio of -49.55. The firm has a 50 day simple moving average of $116.72 and a 200 day simple moving average of $84.84. 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 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Sell-side analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jitendra Mohan sold 173,366 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $110.12, for a total transaction of $19,091,063.92. Following the transaction, the chief executive officer now owns 600,000 shares of the company’s stock, valued at approximately $66,072,000. This trade represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stefan A. Dyckerhoff sold 7,814 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total transaction of $837,426.38. Following the transaction, the director now directly owns 121,803 shares in the company, valued at approximately $13,053,627.51. The trade was a 6.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 883,370 shares of company stock worth $86,643,058.

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.