Commonwealth Equity Services LLC Invests $1.69 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Commonwealth Equity Services LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,784 shares of the company’s stock, valued at approximately $1,693,000.

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

Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares of the company’s stock, valued at $22,208,112.63. This trade represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. The trade was a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 in the last three months.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Craig Hallum raised their target price on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Astera Labs 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 report on Monday, January 6th. Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Morgan Stanley lowered their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. One equities 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. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $112.77.

Astera Labs Trading Down 3.2 %

Shares of Astera Labs stock opened at $60.78 on Friday. The company has a market capitalization of $9.86 billion and a P/E ratio of -35.13. The stock has a fifty day simple moving average of $85.00 and a 200 day simple moving average of $89.84. 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 results on Monday, February 10th. The company reported $0.10 earnings per share 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, analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.