Mark Sheptoff Financial Planning LLC Acquires Shares of 490 Astera Labs, Inc. (NASDAQ:ALAB)

Mark Sheptoff Financial Planning LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 490 shares of the company’s stock, valued at approximately $65,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in Astera Labs during the 4th quarter valued at about $43,000. Zevenbergen Capital Investments LLC bought a new position in shares of Astera Labs in the fourth quarter worth approximately $219,000. Prudential Financial Inc. purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $632,000. Corebridge Financial Inc. increased its holdings in Astera Labs by 359.9% in the 4th quarter. Corebridge Financial Inc. now owns 814 shares of the company’s stock worth $108,000 after buying an additional 637 shares in the last quarter. Finally, Emerald Advisers LLC raised its position in Astera Labs by 71.3% in the 4th quarter. Emerald Advisers LLC now owns 10,788 shares of the company’s stock worth $1,429,000 after buying an additional 4,492 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ALAB has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Barclays boosted their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Stifel Nicolaus raised their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Raymond James assumed coverage on Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Astera Labs has a consensus rating of “Buy” and an average target price of $112.77.

Insiders Place Their Bets

In related news, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock valued at $50,242,702 in the last quarter.

Astera Labs Stock Performance

ALAB stock opened at $72.19 on Wednesday. The company’s fifty day moving average price is $89.05 and its 200-day moving average price is $90.03. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a market capitalization of $11.71 billion and a PE ratio of -41.73.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data 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, research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

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.