Ethic Inc. Invests $656,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Ethic Inc. acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,956 shares of the company’s stock, valued at approximately $656,000.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs in the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC grew its position in shares of 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 in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs during the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC grew its position in shares of Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price for the company in a research report on Monday. Stifel Nicolaus cut their target price on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Needham & Company LLC cut their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Raymond James assumed coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 target price for the company. Finally, Northland Securities upgraded 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. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $99.69.

Astera Labs Price Performance

NASDAQ ALAB opened at $90.66 on Thursday. The stock has a market capitalization of $14.95 billion, a PE ratio of -52.40, a P/E/G ratio of 6.18 and a beta of 0.33. The business has a 50 day simple moving average of $65.52 and a two-hundred day simple moving average of $91.75. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to analysts’ expectations of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The company’s quarterly revenue was up 144.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In other news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value 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. The trade was a 12.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.05, for a total value of $5,328,750.00. Following the completion of the transaction, the chief executive officer now owns 575,000 shares of the company’s stock, valued at approximately $40,853,750. This trade represents a 11.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 873,990 shares of company stock worth $71,404,162.

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.