Commonwealth Equity Services LLC Acquires New Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Commonwealth Equity Services LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,784 shares of the company’s stock, valued at approximately $1,693,000.

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

Astera Labs Trading Down 3.2 %

Shares of NASDAQ:ALAB opened at $60.78 on Friday. The company has a market capitalization of $9.86 billion and a PE ratio of -35.13. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The business has a 50 day moving average of $85.00 and a two-hundred day moving average of $89.84.

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 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 research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Raymond James initiated coverage on Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 target price on the stock. Morgan Stanley dropped their price target 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. Finally, Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One 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. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $112.77.

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the transaction, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the transaction, the general counsel now owns 241,209 shares in the company, valued at $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have 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.