Fortitude Advisory Group L.L.C. Invests $927,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Fortitude Advisory Group L.L.C. acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,999 shares of the company’s stock, valued at approximately $927,000.

Several other large investors also recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new position in shares of Astera Labs during the third quarter worth approximately $26,000. Geneos Wealth Management Inc. bought a new position in Astera Labs in the fourth quarter worth approximately $36,000. ORG Wealth Partners LLC purchased a new position in Astera Labs during the 4th quarter worth $42,000. US Bancorp DE bought a new stake in Astera Labs during the 3rd quarter valued at $46,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Astera Labs in the 3rd quarter worth $49,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm boosted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Barclays lifted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 target price for the company. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Astera Labs presently has an average rating of “Moderate Buy” and an average price target of $109.75.

Insider Activity

In other news, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares of the company’s stock, valued at $11,626,644.90. The trade was a 27.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the sale, the insider now owns 775,000 shares in the company, valued at approximately $74,857,250. This represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock valued at $167,581,256 in the last ninety days.

Astera Labs Price Performance

NASDAQ ALAB opened at $83.16 on Tuesday. The stock’s fifty day moving average price is $123.01 and its 200 day moving average price is $79.09. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (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 during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs’s revenue was up 47.1% on a year-over-year basis. Sell-side analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Astera Labs 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.