Straight Path Wealth Management lowered its position in Astera Labs, Inc. (NASDAQ:ALAB – Free Report) by 49.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,750 shares of the company’s stock after selling 6,600 shares during the quarter. Straight Path Wealth Management’s holdings in Astera Labs were worth $1,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in ALAB. Royal Bank of Canada increased its stake in shares of Astera Labs by 167.3% in the first quarter. Royal Bank of Canada now owns 152,453 shares of the company’s stock valued at $9,097,000 after buying an additional 95,409 shares during the period. AQR Capital Management LLC boosted its holdings in Astera Labs by 213.4% in the first quarter. AQR Capital Management LLC now owns 11,391 shares of the company’s stock valued at $680,000 after acquiring an additional 7,756 shares during the last quarter. Empowered Funds LLC boosted its holdings in Astera Labs by 917.3% in the first quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock valued at $277,000 after acquiring an additional 4,183 shares during the last quarter. First Trust Advisors LP boosted its holdings in Astera Labs by 102.0% in the second quarter. First Trust Advisors LP now owns 112,766 shares of the company’s stock valued at $10,196,000 after acquiring an additional 56,952 shares during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in Astera Labs by 54.9% in the second quarter. Brown Advisory Inc. now owns 5,581 shares of the company’s stock valued at $505,000 after acquiring an additional 1,977 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.
Astera Labs Stock Performance
Astera Labs stock opened at $358.05 on Friday. The stock has a market capitalization of $61.37 billion, a price-to-earnings ratio of 241.93, a PEG ratio of 4.81 and a beta of 3.95. Astera Labs, Inc. has a 52-week low of $84.78 and a 52-week high of $372.37. The stock’s 50 day moving average price is $209.01 and its two-hundred day moving average price is $170.57.
Insiders Place Their Bets
In other Astera Labs news, Director Manuel Alba sold 183,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $107.61, for a total transaction of $19,692,630.00. Following the transaction, the director directly owned 319,863 shares in the company, valued at approximately $34,420,457.43. This represents a 36.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Sanjay Gajendra sold 400,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $290.30, for a total value of $116,120,000.00. Following the transaction, the chief operating officer owned 5,064,213 shares in the company, valued at $1,470,141,033.90. The trade was a 7.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 2,298,757 shares of company stock worth $472,787,436. Corporate insiders own 10.40% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently commented on the company. Barclays upped their target price on Astera Labs from $165.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Needham & Company LLC upped their target price on Astera Labs from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on Astera Labs from $205.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Roth Mkm reiterated a “buy” rating and issued a $275.00 target price on shares of Astera Labs in a report on Wednesday, May 6th. Finally, UBS Group assumed coverage on Astera Labs in a report on Tuesday, April 21st. They issued a “neutral” rating and a $180.00 target price on the stock. Twelve research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $233.75.
Check Out Our Latest Report on ALAB
Astera Labs Company Profile
Astera Labs is a fabless semiconductor company that develops connectivity solutions for data center and cloud infrastructure. The firm focuses on addressing signal integrity and link management challenges that arise as server architectures incorporate higher-bandwidth processors and accelerators. Its technology is aimed at improving reliability and performance for high-speed interconnects used in servers, storage systems and compute accelerators.
The company’s product portfolio centers on silicon devices and accompanying firmware and software that enhance and manage high-speed links.
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