Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC reduced its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 83.7% during the 4th quarter, HoldingsChannel reports. The firm owned 3,100 shares of the company’s stock after selling 15,900 shares during the quarter. Royal Fund Management LLC’s holdings in Astera Labs were worth $411,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Trueblood Wealth Management LLC purchased a new position in Astera Labs during the fourth quarter worth about $331,000. Mandatum Life Insurance Co Ltd acquired a new stake in shares of Astera Labs during the 4th quarter worth approximately $462,000. Oak Ridge Investments LLC purchased a new stake in shares of Astera Labs during the 4th quarter valued at approximately $284,000. Wealthcare Advisory Partners LLC lifted its holdings in Astera Labs by 2.5% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 28,619 shares of the company’s stock valued at $3,791,000 after acquiring an additional 704 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Astera Labs in the fourth quarter worth approximately $500,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Trading Down 6.7 %

Shares of NASDAQ ALAB opened at $124.41 on Wednesday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The stock has a 50 day moving average of $120.38 and a two-hundred day moving average of $77.29.

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

Insiders Place Their Bets

In other Astera Labs news, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction dated 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 completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Manuel Alba sold 11,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the sale, the director now directly owns 456,863 shares of the company’s stock, valued at $53,681,402.50. This represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,690,452 shares of company stock worth $167,581,256.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALAB shares. Barclays upped their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Craig Hallum upped their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Northland Capmk cut shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Northland Securities downgraded shares of Astera Labs from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $100.00 to $120.00 in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Astera Labs presently has a consensus rating of “Moderate Buy” and an average price target of $109.75.

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.