Visionary Wealth Advisors Invests $211,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Visionary Wealth Advisors bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,594 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after buying an additional 3,760,765 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after buying an additional 792,153 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after buying an additional 1,384,498 shares in the last quarter. Finally, Jennison Associates LLC bought a new stake in Astera Labs during the 4th quarter valued at about $229,991,000. Institutional investors own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of research analyst reports. Stifel Nicolaus decreased their price objective on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Needham & Company LLC reduced their price target on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Susquehanna began coverage on shares of Astera Labs in a report on Friday, May 16th. They issued a “neutral” rating and a $80.00 price target for the company. Barclays boosted their price target on shares of Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Finally, Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $100.00.

Astera Labs Trading Down 2.4%

NASDAQ:ALAB opened at $92.17 on Thursday. The company has a market cap of $15.20 billion, a PE ratio of -53.28, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The company’s 50 day moving average is $68.03 and its two-hundred day moving average is $92.42.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Astera Labs’s revenue was up 144.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. The trade was a 34.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jitendra Mohan sold 128,250 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $90.02, for a total transaction of $11,545,065.00. Following the sale, the chief executive officer now directly owns 541,125 shares in the company, valued at approximately $48,712,072.50. This represents a 19.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 852,640 shares of company stock valued at $69,893,694.

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.