Atria Wealth Solutions Inc. Buys New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Atria Wealth Solutions Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,509 shares of the company’s stock, valued at approximately $332,000.

A number of other large investors also recently modified their holdings of the business. CIBC Asset Management Inc raised its stake in shares of Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock worth $630,000 after purchasing an additional 237 shares in the last quarter. Sanctuary Advisors LLC raised its position in Astera Labs by 37.7% during the fourth quarter. Sanctuary Advisors LLC now owns 5,329 shares of the company’s stock worth $706,000 after acquiring an additional 1,458 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Astera Labs during the fourth quarter worth $1,388,000. State of New Jersey Common Pension Fund D acquired a new stake in Astera Labs in the fourth quarter valued at $2,921,000. Finally, Principal Securities Inc. bought a new position in shares of Astera Labs in the 4th quarter valued at about $55,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALAB has been the topic of a number of research analyst reports. Craig Hallum upped their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Stifel Nicolaus upped their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $115.33.

Astera Labs Stock Performance

ALAB opened at $74.35 on Friday. The stock has a fifty day moving average of $111.87 and a 200-day moving average of $86.19. The company has a market capitalization of $12.06 billion and a P/E ratio of -42.98. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the transaction, the general counsel now directly owns 241,209 shares in the company, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 827,990 shares of company stock worth $77,096,842.

Astera Labs Company 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.