Park Avenue Securities LLC Acquires Shares of 3,775 Astera Labs, Inc. (NASDAQ:ALAB)

Park Avenue Securities LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 3,775 shares of the company’s stock, valued at approximately $500,000.

A number of other institutional investors have also made changes to their positions in the business. Hollencrest Capital Management acquired a new stake in Astera Labs during the 3rd quarter valued at $26,000. ORG Wealth Partners LLC bought a new position in shares of Astera Labs in the fourth quarter valued at about $42,000. US Bancorp DE acquired a new stake in shares of Astera Labs during the 3rd quarter worth about $46,000. First Horizon Advisors Inc. acquired a new stake in shares of Astera Labs during the 3rd quarter worth about $49,000. Finally, Allworth Financial LP boosted its holdings in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares during the period. 60.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on ALAB shares. Roth Mkm increased their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barclays increased their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Citigroup started coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Finally, Morgan Stanley downgraded Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 target price for the company. in a report on Tuesday. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.75.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $123.73 on Friday. The stock’s fifty day moving average is $121.72 and its 200 day moving average is $78.06. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. On average, analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Astera Labs

In other news, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the sale, the chief executive officer now directly owns 628,895 shares in the company, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares in the company, valued at $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock valued at $167,581,256 over the last three months.

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.