Wealth Architects LLC Makes New $763,000 Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Wealth Architects LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, Holdings Channel.com reports. The fund bought 5,757 shares of the company’s stock, valued at approximately $763,000.

A number of other institutional investors have also recently modified their holdings of the business. SlateStone Wealth LLC grew its position in shares of Astera Labs by 15.0% during the 4th quarter. SlateStone Wealth LLC now owns 18,400 shares of the company’s stock valued at $2,437,000 after acquiring an additional 2,400 shares during the period. CV Advisors LLC acquired a new stake in Astera Labs in the 4th quarter worth about $265,000. Envestnet Portfolio Solutions Inc. purchased a new position in Astera Labs in the 4th quarter worth approximately $599,000. Natixis Advisors LLC purchased a new position in Astera Labs in the 4th quarter worth approximately $2,871,000. Finally, Commonwealth Equity Services LLC purchased a new position in Astera Labs in the 4th quarter worth approximately $1,693,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Stock Up 10.5 %

NASDAQ:ALAB opened at $72.18 on Monday. The company has a fifty day simple moving average of $97.61 and a two-hundred day simple moving average of $88.63. The company has a market cap of $11.70 billion and a price-to-earnings ratio of -41.72. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS 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%. On average, analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley decreased 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 note on Tuesday, January 28th. Northland Securities raised shares of 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. Craig Hallum lifted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Barclays lifted their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $112.77.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 125,800 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 244,242 shares in the company, valued at approximately $20,157,292.26. The trade was a 34.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the transaction, the chief executive officer now owns 2,353,655 shares of the company’s stock, 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 quarter, insiders sold 570,990 shares of company stock worth $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.