Fortitude Advisory Group L.L.C. Takes $927,000 Position in Astera Labs, Inc. (NASDAQ:ALAB)

Fortitude Advisory Group L.L.C. purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,999 shares of the company’s stock, valued at approximately $927,000.

Other large investors also recently added to or reduced their stakes in the company. Cherry Creek Investment Advisors Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $399,000. KBC Group NV purchased a new position in Astera Labs in the 4th quarter valued at about $199,000. Kingswood Wealth Advisors LLC acquired a new stake in Astera Labs in the 4th quarter worth about $224,000. Geneos Wealth Management Inc. purchased a new stake in Astera Labs during the 4th quarter worth approximately $36,000. Finally, Berbice Capital Management LLC acquired a new position in shares of Astera Labs during the fourth quarter valued at approximately $86,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the sale, the insider now directly owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. The trade was a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the transaction, the director now directly owns 6,148 shares in the company, valued at approximately $556,455.48. The trade was a 96.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,690,452 shares of company stock valued at $167,581,256.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALAB. Barclays lifted their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Northland Capmk cut shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Morgan Stanley downgraded shares of Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 price objective for the company. in a report on Tuesday, January 21st. Finally, Craig Hallum boosted their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $83.16 on Tuesday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The stock’s fifty day moving average is $123.01 and its two-hundred day moving average is $79.09.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The business’s revenue was up 47.1% compared to the same quarter last year. On average, equities research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Astera Labs Company 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.