Sanctuary Advisors LLC Increases Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Sanctuary Advisors LLC grew its position in Astera Labs, Inc. (NASDAQ:ALAB) by 37.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,329 shares of the company’s stock after purchasing an additional 1,458 shares during the period. Sanctuary Advisors LLC’s holdings in Astera Labs were worth $706,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ALAB. Hollencrest Capital Management purchased a new stake in Astera Labs during the third quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new stake in Astera Labs during the fourth quarter worth about $36,000. ORG Wealth Partners LLC purchased a new stake in Astera Labs during the fourth quarter worth about $42,000. US Bancorp DE purchased a new stake in Astera Labs during the third quarter worth about $46,000. Finally, First Horizon Advisors Inc. purchased a new stake in Astera Labs during the third quarter worth about $49,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Trading Down 1.8 %

Shares of NASDAQ:ALAB opened at $74.35 on Friday. The company has a 50 day moving average of $111.87 and a 200 day moving average of $86.19. The stock has a market cap of $12.06 billion and a P/E ratio of -42.98. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data 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 net margin of 21.05% and a negative return on equity of 10.40%. On average, equities analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. The trade was a 34.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction 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 represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 827,990 shares of company stock valued at $77,096,842.

Analysts Set New Price Targets

A number of analysts recently issued reports on ALAB shares. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. Craig Hallum raised their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Barclays lifted their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Astera Labs has an average rating of “Buy” and a consensus price target of $115.33.

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.