Sigma Planning Corp Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

Sigma Planning Corp bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,520 shares of the company’s stock, valued at approximately $2,718,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hollencrest Capital Management acquired a new stake in shares of Astera Labs in the third quarter valued at about $26,000. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $36,000. Global Retirement Partners LLC lifted its stake in shares of Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Price Performance

NASDAQ:ALAB opened at $85.72 on Friday. The firm has a 50 day simple moving average of $116.72 and a 200-day simple moving average of $85.13. The firm has a market cap of $13.90 billion and a PE ratio of -49.55. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, sell-side analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Roth Mkm raised their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum lifted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus lifted their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $115.33.

Insider Activity

In other news, General Counsel Philip Mazzara sold 7,536 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the transaction, the general counsel now owns 241,209 shares of the company’s stock, valued at $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 883,370 shares of company stock valued at $86,643,058 over the last 90 days.

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.