Comprehensive Financial Planning Inc. PA Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Comprehensive Financial Planning Inc. PA bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, HoldingsChannel reports. The fund bought 1,888 shares of the company’s stock, valued at approximately $250,000.

A number of other institutional investors have also made changes to their positions in ALAB. The Manufacturers Life Insurance Company bought a new stake in Astera Labs during the second quarter valued at $341,000. Truist Financial Corp acquired a new stake in Astera Labs during the second quarter worth about $353,000. SG Americas Securities LLC bought a new position in Astera Labs in the third quarter worth about $594,000. Renaissance Capital LLC boosted its stake in Astera Labs by 20.0% in the third quarter. Renaissance Capital LLC now owns 23,760 shares of the company’s stock valued at $1,245,000 after acquiring an additional 3,967 shares during the period. Finally, Seven Grand Managers LLC grew its holdings in shares of Astera Labs by 25.0% during the third quarter. Seven Grand Managers LLC now owns 125,000 shares of the company’s stock valued at $6,549,000 after purchasing an additional 25,000 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Down 3.1 %

Shares of NASDAQ ALAB opened at $101.29 on Monday. The stock has a fifty day moving average price of $122.39 and a two-hundred day moving average price of $81.91. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Analysts Set New Price Targets

Several analysts recently issued reports on ALAB shares. Stifel Nicolaus raised their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Craig Hallum raised their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $107.42.

Insider Activity at Astera Labs

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the transaction, the director now directly owns 6,148 shares in the company, valued at $556,455.48. This trade represents a 96.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the transaction, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at $65,109,499.35. This represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 846,452 shares of company stock valued at $86,427,256 over the last 90 days.

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.