Tidal Investments LLC Has $4.23 Million Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Tidal Investments LLC decreased its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 29.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,956 shares of the company’s stock after selling 13,342 shares during the quarter. Tidal Investments LLC’s holdings in Astera Labs were worth $4,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs in the 4th quarter worth about $25,000. Steward Partners Investment Advisory LLC raised its stake in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Astera Labs in the 4th quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new stake in Astera Labs in the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC raised its stake in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ALAB. Raymond James began coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Citigroup dropped their price objective on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Susquehanna started coverage on shares of Astera Labs in a report on Friday, May 16th. They issued a “neutral” rating and a $80.00 target price on the stock. Finally, Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $98.29.

Astera Labs Stock Up 4.6%

ALAB stock opened at $94.46 on Wednesday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The firm has a market cap of $15.58 billion, a P/E ratio of -54.60, a P/E/G ratio of 6.18 and a beta of 0.33. The company’s 50-day moving average price is $67.63 and its two-hundred day moving average price is $92.42.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm’s revenue was up 144.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In related news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now directly owns 444,863 shares of the company’s stock, valued at approximately $28,190,968.31. The trade was a 12.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the sale, the chief executive officer now directly owns 575,000 shares in the company, valued at $40,853,750. This trade represents a 11.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 774,390 shares of company stock valued at $62,721,629.

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.