Kestra Investment Management LLC Acquires Shares of 208 Astera Labs, Inc. (NASDAQ:ALAB)

Kestra Investment Management LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 208 shares of the company’s stock, valued at approximately $28,000.

Several other hedge funds have also modified their holdings of the stock. Atria Wealth Solutions Inc. bought a new position in Astera Labs in the 4th quarter worth approximately $332,000. CIBC Asset Management Inc increased its stake in shares of Astera Labs by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after buying an additional 237 shares during the period. Sanctuary Advisors LLC raised its position in shares of Astera Labs by 37.7% during the fourth quarter. Sanctuary Advisors LLC now owns 5,329 shares of the company’s stock worth $706,000 after acquiring an additional 1,458 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Astera Labs during the fourth quarter valued at $1,388,000. Finally, State of New Jersey Common Pension Fund D bought a new position in Astera Labs in the fourth quarter valued at about $2,921,000. 60.47% of the stock is owned by institutional investors.

Astera Labs Price Performance

NASDAQ:ALAB opened at $85.72 on Friday. The business’s 50-day simple moving average is $116.72 and its 200-day simple moving average is $85.13. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a market capitalization of $13.90 billion and a PE ratio of -49.55.

Astera Labs (NASDAQ:ALAB) last announced its quarterly 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 net margin of 21.05% and a negative return on equity of 10.40%. On average, research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. 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. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus raised their price objective 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. Barclays upped their target price 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. Finally, Roth Mkm raised their price target on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $115.33.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares in the company, valued at $16,723,139.14. The trade was a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stefan A. Dyckerhoff sold 7,814 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $107.17, for a total value of $837,426.38. Following the transaction, the director now owns 121,803 shares of the company’s stock, valued at approximately $13,053,627.51. The trade was a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 883,370 shares of company stock valued at $86,643,058.

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.