Envestnet Portfolio Solutions Inc. Acquires New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Envestnet Portfolio Solutions Inc. bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,520 shares of the company’s stock, valued at approximately $599,000.

Other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its stake in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Astera Labs in the 4th quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs in the 4th quarter valued at about $36,000. Global Retirement Partners LLC grew its position 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 valued at $39,000 after buying an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Astera Labs during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the sale, the director now owns 91,794 shares in the company, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 in the last three months.

Astera Labs Stock Up 3.8 %

Shares of Astera Labs stock opened at $73.78 on Tuesday. The business has a fifty day simple moving average of $90.17 and a 200-day simple moving average of $89.80. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm has a market cap of $11.96 billion and a price-to-earnings ratio of -42.65.

Astera Labs (NASDAQ:ALAB) last issued 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 anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on ALAB shares. Raymond James assumed coverage on Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price for the company. Morgan Stanley lowered their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Craig Hallum upped their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Barclays lifted their price objective 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 investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $112.77.

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.