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

Proficio Capital Partners LLC grew its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 1,008.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 235,364 shares of the company’s stock after purchasing an additional 214,128 shares during the quarter. Proficio Capital Partners LLC’s holdings in Astera Labs were worth $31,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALAB. Allworth Financial LP boosted its holdings in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares in the last quarter. Strategic Blueprint LLC boosted its holdings in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after buying an additional 195 shares in the last quarter. US Bancorp DE bought a new position in shares of Astera Labs during the 3rd quarter worth approximately $46,000. Realta Investment Advisors acquired a new position in shares of Astera Labs during the third quarter worth approximately $244,000. Finally, Janney Capital Management LLC acquired a new position in shares of Astera Labs during the third quarter worth approximately $388,000. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $74.35 on Friday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a market cap of $12.06 billion and a PE ratio of -42.98. The stock has a fifty day moving average price of $111.87 and a 200-day moving average price of $86.19.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data 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%. As a group, equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 827,990 shares of company stock valued at $77,096,842 over the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Roth Mkm upped their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum upped their target price on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley lowered their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Barclays upped their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Stifel Nicolaus upped their target price on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Astera Labs presently has an average rating of “Buy” and a consensus target price of $115.33.

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.