Peterson Wealth Services Purchases New Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Peterson Wealth Services purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, HoldingsChannel reports. The fund purchased 9,121 shares of the company’s stock, valued at approximately $1,208,000.

Other large investors have also bought and sold shares of the company. Tidal Investments LLC lifted its stake in Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after acquiring an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Astera Labs during the 3rd quarter valued at $530,000. Avior Wealth Management LLC bought a new position in Astera Labs during the 3rd quarter valued at $361,000. Maverick Capital Ltd. lifted its stake in Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, Bank of Hawaii bought a new position in Astera Labs during the 3rd quarter valued at $1,409,000. 60.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the completion of the transaction, the general counsel now owns 248,745 shares of the company’s stock, valued at $22,588,533.45. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the transaction, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 846,452 shares of company stock valued at $86,427,256 in the last quarter.

Astera Labs Price Performance

Shares of ALAB opened at $103.29 on Tuesday. The business has a 50-day moving average of $122.39 and a 200 day moving average of $82.15. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. On average, research analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ALAB shares. JPMorgan Chase & Co. raised their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. Citigroup initiated coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $107.42.

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.