Truist Financial Corp Has $1.92 Million Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Truist Financial Corp lessened its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 64.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,517 shares of the company’s stock after selling 26,756 shares during the period. Truist Financial Corp’s holdings in Astera Labs were worth $1,923,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $26,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs in the 4th quarter valued at about $36,000. ORG Wealth Partners LLC acquired a new position in shares of Astera Labs in the 4th quarter valued at about $42,000. US Bancorp DE acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $46,000. Finally, First Horizon Advisors Inc. acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $49,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

ALAB has been the topic of a number of research reports. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Craig Hallum boosted their price target on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Roth Mkm boosted their price target on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $115.33.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 50,000 shares of the firm’s stock in a transaction 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 directly owns 191,209 shares of the company’s stock, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was 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 approximately $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 702,190 shares of company stock valued at $66,714,568 over the last ninety days.

Astera Labs Trading Up 6.8 %

Shares of Astera Labs stock opened at $83.00 on Thursday. The company’s fifty day simple moving average is $114.01 and its 200-day simple moving average is $86.02. The company has a market cap of $13.46 billion and a price-to-earnings ratio of -47.98. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

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