Mariner LLC Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

Mariner LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 5,893 shares of the company’s stock, valued at approximately $781,000.

A number of other large investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its position in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after acquiring an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs in the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new position in shares of Astera Labs in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC boosted its position in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 224 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after acquiring an additional 237 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ALAB shares. Stifel Nicolaus dropped their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Citigroup dropped their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays lifted 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. 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 report on Tuesday, January 28th. Finally, Morgan Stanley dropped their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. One research 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. According to data from MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and an average price target of $109.25.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the sale, the general counsel now directly owns 241,209 shares in the company, valued at approximately $22,208,112.63. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the transaction, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 633,990 shares of company stock worth $54,235,012.

Astera Labs Trading Down 0.0 %

Shares of ALAB stock opened at $66.08 on Tuesday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a market cap of $10.72 billion and a PE ratio of -38.20. The company’s fifty day moving average price is $65.88 and its 200-day moving average price is $91.52.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 EPS 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, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.