Sound Income Strategies LLC Has $47,000 Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Sound Income Strategies LLC boosted its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 34.7% during the first quarter, Holdings Channel reports. The institutional investor owned 792 shares of the company’s stock after buying an additional 204 shares during the period. Sound Income Strategies LLC’s holdings in Astera Labs were worth $47,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Proficio Capital Partners LLC grew its holdings in Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock worth $2,864,000 after purchasing an additional 390 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Astera Labs by 2,824.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company’s stock worth $20,467,000 after buying an additional 149,240 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after purchasing an additional 792,153 shares during the period. Aigen Investment Management LP bought a new stake in shares of Astera Labs in the 4th quarter worth approximately $1,573,000. Finally, Oppenheimer & Co. Inc. purchased a new position in Astera Labs in the 4th quarter valued at approximately $3,476,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of recent analyst reports. Susquehanna assumed coverage on shares of Astera Labs in a research report on Friday, May 16th. They set a “neutral” rating and a $80.00 price target for the company. Stifel Nicolaus cut their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Needham & Company LLC lowered their price target on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Barclays upped their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a research note on Monday, May 12th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $100.00.

Insider Buying and Selling

In related news, CEO Jitendra Mohan sold 75,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 575,000 shares in the company, valued at approximately $40,853,750. This represents a 11.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 444,863 shares in the company, valued at $28,190,968.31. The trade was a 12.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,495,267 shares of company stock worth $131,012,865.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $92.91 on Wednesday. The company has a market capitalization of $15.32 billion, a price-to-earnings ratio of 422.34, a P/E/G ratio of 4.48 and a beta of 1.39. The company has a 50 day simple moving average of $79.46 and a two-hundred day simple moving average of $92.15. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The company had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. During the same quarter last year, the firm earned $0.10 earnings per share. The firm’s quarterly revenue was up 144.1% compared to the same quarter last year. On average, analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.