Sei Investments Co. Cuts Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Sei Investments Co. lowered its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 21.0% in the 4th quarter, Holdings Channel reports. The firm owned 99,198 shares of the company’s stock after selling 26,405 shares during the period. Sei Investments Co.’s holdings in Astera Labs were worth $13,136,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ALAB. Vestor Capital LLC purchased a new stake in Astera Labs during the fourth quarter valued at approximately $13,538,000. Virtu Financial LLC bought a new stake in Astera Labs during the 4th quarter valued at approximately $4,473,000. Quantbot Technologies LP purchased a new position in shares of Astera Labs in the fourth quarter worth $4,106,000. TD Private Client Wealth LLC purchased a new stake in Astera Labs in the 4th quarter worth $148,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs in the fourth quarter worth about $25,000. Institutional investors own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Craig Hallum upped their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Raymond James initiated 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. Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley cut their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $112.77.

Insiders Place Their Bets

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs 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 transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The sale 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 company’s stock in a transaction on 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 sale, the director now 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. In the last quarter, insiders sold 570,990 shares of company stock worth $50,242,702.

Astera Labs Stock Performance

ALAB stock opened at $60.78 on Friday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The company’s 50 day moving average price is $85.00 and its 200 day moving average price is $89.84. The firm has a market capitalization of $9.86 billion and a price-to-earnings ratio of -35.13.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Equities analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

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.