Essex Financial Services Inc. Has $3.30 Million Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Essex Financial Services Inc. increased its position in Astera Labs, Inc. (NASDAQ:ALAB) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 24,939 shares of the company’s stock after buying an additional 468 shares during the period. Essex Financial Services Inc.’s holdings in Astera Labs were worth $3,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALAB. Tidal Investments LLC lifted its position in shares of Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Astera Labs in the 3rd quarter worth approximately $530,000. Avior Wealth Management LLC acquired a new position in shares of Astera Labs during the third quarter worth approximately $361,000. Maverick Capital Ltd. boosted its position in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares during the period. Finally, Bank of Hawaii bought a new stake in shares of Astera Labs in the third quarter valued at approximately $1,409,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Trading Up 2.0 %

Astera Labs stock opened at $103.29 on Tuesday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock has a fifty day moving average price of $122.39 and a two-hundred day moving average price of $82.15.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results 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 30.69% and a negative return on equity of 15.57%. On average, equities research analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Activity

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the sale, the director now owns 6,148 shares in the company, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the transaction, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 846,452 shares of company stock worth $86,427,256.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. Craig Hallum boosted their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus increased their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Morgan Stanley lowered their price target on 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $107.42.

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.