Western Pacific Wealth Management LP Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

Western Pacific Wealth Management LP purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,600 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs during the 4th quarter worth approximately $36,000. ORG Wealth Partners LLC acquired a new position in Astera Labs during the fourth quarter valued at approximately $42,000. Hollencrest Capital Management bought a new stake in Astera Labs during the third quarter worth $26,000. GAMMA Investing LLC boosted its holdings in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares in the last quarter. Finally, Berbice Capital Management LLC bought a new position in shares of Astera Labs in the 4th quarter valued at $86,000. Institutional investors own 60.47% of the company’s stock.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the transaction, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction that occurred on 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 owns 1,412,888 shares in the company, valued at $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several research analyst reports. Craig Hallum raised their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Citigroup began coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Morgan Stanley decreased their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Finally, Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. One investment 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. According to MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average target price of $107.42.

Astera Labs Stock Up 4.7 %

Astera Labs stock opened at $101.42 on Friday. The stock’s 50 day moving average is $122.46 and its 200 day moving average is $80.18. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities research analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal 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.