33,770 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Virtu Financial LLC

Virtu Financial LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,770 shares of the company’s stock, valued at approximately $4,473,000.

Other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs in the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC raised its position in Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Astera Labs in the fourth quarter worth about $28,000. Geneos Wealth Management Inc. bought a new stake in Astera Labs in the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC raised its position in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after acquiring an additional 284 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ALAB shares. Raymond James started coverage on shares of Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price target on the stock. Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Morgan Stanley cut their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Finally, Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $112.77.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $71.10 on Friday. The stock has a market cap of $11.53 billion and a price-to-earnings ratio of -41.10. The business has a 50 day simple moving average of $91.24 and a 200 day simple moving average of $88.89. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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, analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 owns 241,209 shares of the company’s stock, valued at $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 570,990 shares of company stock valued at $50,242,702.

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.