Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Seven Grand Managers LLC

Seven Grand Managers LLC trimmed its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 60.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the company’s stock after selling 75,000 shares during the quarter. Astera Labs comprises approximately 3.0% of Seven Grand Managers LLC’s portfolio, making the stock its 16th largest holding. Seven Grand Managers LLC’s holdings in Astera Labs were worth $6,622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ALAB. Steward Partners Investment Advisory LLC increased its holdings 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 purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs in the 4th quarter valued at $25,000. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs in the 4th quarter worth $28,000. CIBC Asset Management Inc raised its holdings in shares of Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock worth $630,000 after acquiring an additional 237 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs during the 4th quarter worth $36,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a report on Monday. Stifel Nicolaus dropped their price target on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Barclays raised their price target on shares of Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $99.69.

Astera Labs Stock Performance

NASDAQ ALAB opened at $92.19 on Friday. The firm has a market cap of $15.20 billion, a price-to-earnings ratio of -53.29, a PEG ratio of 6.18 and a beta of 0.33. The firm has a 50 day simple moving average of $66.13 and a 200-day simple moving average of $91.88. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to analysts’ expectations of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm’s revenue was up 144.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. Equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity at Astera Labs

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now directly owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sanjay Gajendra sold 165,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the sale, the insider now owns 755,000 shares in the company, valued at $54,178,800. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 873,990 shares of company stock worth $71,404,162.

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.