Hoey Investments Inc. Has $636,000 Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Hoey Investments Inc. cut its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 29.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,800 shares of the company’s stock after selling 1,987 shares during the quarter. Hoey Investments Inc.’s holdings in Astera Labs were worth $636,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC raised its position in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Astera Labs during the 4th quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new position in Astera Labs in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC raised its holdings in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after acquiring an additional 284 shares during the period. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Trading Down 3.2 %

NASDAQ ALAB opened at $60.78 on Monday. The firm’s 50 day simple moving average is $85.00 and its 200 day simple moving average is $90.54. The firm has a market capitalization of $9.86 billion and a price-to-earnings ratio of -35.13. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, equities research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In related news, CFO Michael Truett Tate sold 34,474 shares of the 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 $3,174,021.18. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $22,487,360.94. This represents a 12.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock valued at $50,242,702 over the last ninety days.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALAB. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays upped their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Stifel Nicolaus lifted their target price on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. Finally, Morgan Stanley lowered their price target on shares of 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. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and a consensus price target of $112.77.

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.