Southeast Asset Advisors LLC Lowers Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Southeast Asset Advisors LLC cut its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,811 shares of the company’s stock after selling 200 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Astera Labs were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ALAB. Legal & General Group Plc increased its holdings in Astera Labs by 145.6% during the 4th quarter. Legal & General Group Plc now owns 59,518 shares of the company’s stock worth $7,883,000 after purchasing an additional 35,285 shares during the period. Trek Financial LLC purchased a new position in shares of Astera Labs during the fourth quarter valued at $2,029,000. Polymer Capital Management HK LTD bought a new stake in shares of Astera Labs in the fourth quarter valued at about $2,656,000. Federated Hermes Inc. bought a new stake in shares of Astera Labs in the fourth quarter valued at about $19,205,000. Finally, Himension Capital Singapore PTE. LTD. purchased a new stake in Astera Labs in the fourth quarter worth about $868,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Down 4.9 %

Shares of Astera Labs stock opened at $52.94 on Monday. The company has a 50 day moving average price of $78.49 and a 200 day moving average price of $91.05. The firm has a market capitalization of $8.58 billion and a P/E ratio of -30.60. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Craig Hallum boosted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays boosted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $112.77.

Insider Buying and Selling

In other Astera Labs news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the transaction, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the sale, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. The trade was a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock worth $54,235,012 in the last 90 days.

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.