Kingsview Wealth Management LLC Grows Position in Astera Labs, Inc. (NASDAQ:ALAB)

Kingsview Wealth Management LLC increased its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 20.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,490 shares of the company’s stock after acquiring an additional 1,260 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Astera Labs were worth $992,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ALAB. Hollencrest Capital Management purchased a new stake in Astera Labs in the third quarter worth about $26,000. Geneos Wealth Management Inc. purchased a new stake in Astera Labs in the fourth quarter worth about $36,000. ORG Wealth Partners LLC purchased a new stake in Astera Labs in the fourth quarter worth about $42,000. US Bancorp DE purchased a new stake in Astera Labs in the third quarter worth about $46,000. Finally, First Horizon Advisors Inc. purchased a new stake in Astera Labs in the third quarter worth about $49,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ALAB shares. Morgan Stanley decreased their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $140.00 price target on shares of Astera Labs in a research report on Tuesday. Roth Mkm increased their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $115.33.

Insider Buying and Selling

In other news, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at $65,109,499.35. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the sale, the general counsel now directly owns 248,745 shares in the company, valued at $22,588,533.45. The trade was a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 846,452 shares of company stock worth $86,427,256.

Astera Labs Trading Down 10.9 %

Shares of NASDAQ:ALAB opened at $92.04 on Wednesday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The company’s 50 day moving average is $122.39 and its 200 day moving average is $82.55.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results 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 15.57% and a negative net margin of 30.69%. As a group, research analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

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.