Atria Investments Inc Acquires New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Atria Investments Inc acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,285 shares of the company’s stock, valued at approximately $303,000.

Other hedge funds have also bought and sold shares of the company. Cookson Peirce & Co. Inc. bought a new stake in shares of Astera Labs in the fourth quarter worth approximately $662,000. Victory Capital Management Inc. boosted its holdings in Astera Labs by 13.6% in the fourth quarter. Victory Capital Management Inc. now owns 15,216 shares of the company’s stock worth $2,015,000 after purchasing an additional 1,826 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Astera Labs by 12.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 132,472 shares of the company’s stock worth $17,546,000 after purchasing an additional 15,008 shares during the period. Steward Partners Investment Advisory LLC grew its position in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Astera Labs during the 4th quarter valued at $1,661,000. Hedge funds and other institutional investors 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 Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. Raymond James started coverage on Astera Labs in a research report on Friday. They issued an “outperform” rating and a $82.00 target price on the stock. Barclays upped their price target 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. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $112.77.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $72.05 on Tuesday. The stock has a market cap of $11.68 billion and a PE ratio of -41.65. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a fifty day moving average price of $96.18 and a 200-day moving average price of $88.79.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (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, research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In related news, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $22,208,112.63. This trade represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares in the company, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 570,990 shares of company stock valued at $50,242,702.

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.