Proficio Capital Partners LLC Has $2.86 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

Proficio Capital Partners LLC lifted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,626 shares of the company’s stock after buying an additional 390 shares during the period. Proficio Capital Partners LLC’s holdings in Astera Labs were worth $2,864,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs in the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs in the fourth quarter valued at $36,000. Global Retirement Partners LLC increased its holdings in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after buying an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Astera Labs during the fourth quarter worth $42,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Trading Down 4.4 %

Shares of Astera Labs stock opened at $68.89 on Wednesday. The firm’s 50 day moving average is $94.89 and its 200 day moving average is $88.98. The firm has a market capitalization of $11.17 billion and a PE ratio of -39.82. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Astera Labs 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 on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus raised their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $112.77.

Insider Activity

In other news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction dated 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 position. 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 dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 570,990 shares of company stock valued at $50,242,702.

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.