CIBC Private Wealth Group LLC Has $477,000 Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

CIBC Private Wealth Group LLC boosted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 44.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,650 shares of the company’s stock after purchasing an additional 1,125 shares during the period. CIBC Private Wealth Group LLC’s holdings in Astera Labs were worth $477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the 4th quarter valued at about $25,000. Steward Partners Investment Advisory LLC raised 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 acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Astera Labs in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. bought a new stake in Astera Labs in the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC increased its stake in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Activity

In other news, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 633,990 shares of company stock worth $54,235,012.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALAB. Craig Hallum upped 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. Morgan Stanley lowered their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Raymond James assumed coverage on Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price for the company. 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 report on Tuesday, January 28th. Finally, Stifel Nicolaus boosted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $112.77.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $52.94 on Friday. The firm has a fifty day moving average price of $78.49 and a two-hundred day moving average price of $90.74. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The company has a market cap of $8.58 billion and a PE ratio of -30.60.

Astera Labs (NASDAQ:ALAB) last released its 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%. Analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.