Sei Investments Co. Decreases Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Sei Investments Co. trimmed its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 21.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,198 shares of the company’s stock after selling 26,405 shares during the period. Sei Investments Co. owned about 0.06% of Astera Labs worth $13,136,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Truett Tate sold 125,800 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the sale, the chief financial officer now directly 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 have sold a total of 570,990 shares of company stock worth $50,242,702 in the last ninety days.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $60.78 on Friday. The firm has a fifty day moving average of $85.00 and a 200 day moving average of $89.84. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm has a market capitalization of $9.86 billion and a PE ratio of -35.13.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data 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, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Raymond James started coverage on Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price for the company. Stifel Nicolaus upped their price target on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Craig Hallum upped their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One research 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. Based on data from MarketBeat.com, Astera Labs has an average rating of “Buy” and an average 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.