Berbice Capital Management LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Berbice Capital Management LLC purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 650 shares of the company’s stock, valued at approximately $86,000.

A number of other large investors also recently made changes to their positions in the business. Hollencrest Capital Management acquired a new stake in Astera Labs in the 3rd quarter valued at $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Astera Labs during the fourth quarter valued at about $42,000. US Bancorp DE acquired a new position in Astera Labs in the third quarter worth about $46,000. First Horizon Advisors Inc. acquired a new position in Astera Labs in the third quarter worth about $49,000. Finally, Allworth Financial LP grew its stake in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insiders Place Their Bets

In other Astera Labs news, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the transaction, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the transaction, the director now owns 129,617 shares in the company, valued at approximately $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,690,452 shares of company stock worth $167,581,256.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $122.37 on Friday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock’s 50 day moving average price is $121.72 and its 200 day moving average price is $78.06.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The company’s revenue was up 47.1% on a year-over-year basis. Research analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on ALAB shares. Northland Securities downgraded Astera Labs from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $100.00 to $120.00 in a research note on Thursday, January 2nd. Roth Mkm raised their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley cut shares of Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 target price on the stock. in a report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Astera Labs presently has an average rating of “Moderate Buy” and an average price target of $109.75.

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.