Proficio Capital Partners LLC Buys 214,128 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Proficio Capital Partners LLC boosted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 1,008.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,364 shares of the company’s stock after purchasing an additional 214,128 shares during the quarter. Proficio Capital Partners LLC owned about 0.15% of Astera Labs worth $31,174,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALAB. Oppenheimer & Co. Inc. bought a new stake in shares of Astera Labs in the fourth quarter valued at about $3,476,000. Whipplewood Advisors LLC bought a new stake in shares of Astera Labs in the fourth quarter valued at about $66,000. Amalgamated Bank boosted its position in shares of Astera Labs by 382.5% in the fourth quarter. Amalgamated Bank now owns 5,891 shares of the company’s stock valued at $780,000 after acquiring an additional 4,670 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Astera Labs by 123.9% in the fourth quarter. Bank of New York Mellon Corp now owns 383,197 shares of the company’s stock valued at $50,754,000 after acquiring an additional 212,055 shares during the period. Finally, Trifecta Capital Advisors LLC bought a new stake in shares of Astera Labs in the fourth quarter valued at about $43,000. 60.47% of the stock is owned by institutional investors.

Insider Transactions at Astera Labs

In other news, Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the sale, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of the company’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 sale, the general counsel now owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 827,990 shares of company stock worth $77,096,842.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Craig Hallum boosted their price target on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft boosted their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley dropped their price target on 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. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $115.33.

Astera Labs Trading Down 1.8 %

Shares of NASDAQ ALAB opened at $74.35 on Friday. The company has a market cap of $12.06 billion and a price-to-earnings ratio of -42.98. The stock has a 50-day moving average price of $111.87 and a two-hundred day moving average price of $86.19. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results 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 10.40% and a negative net margin of 21.05%. On average, sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.