Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA raised its position in Astera Labs, Inc. (NASDAQ:ALAB) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 91,408 shares of the company’s stock after acquiring an additional 2,343 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.06% of Astera Labs worth $5,531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Legato Capital Management LLC purchased a new position in shares of Astera Labs during the 2nd quarter worth approximately $207,000. Alpine Global Management LLC purchased a new stake in shares of Astera Labs during the 1st quarter worth $272,000. Strategic Blueprint LLC acquired a new position in shares of Astera Labs during the 2nd quarter worth $332,000. Central Pacific Bank Trust Division purchased a new position in shares of Astera Labs in the 1st quarter valued at about $402,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in shares of Astera Labs in the second quarter valued at about $443,000.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now owns 855,000 shares in the company, valued at approximately $38,748,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the transaction, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,791 shares of company stock valued at $7,921,748.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $50.51 on Friday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $95.21. The business’s fifty day simple moving average is $44.25.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. Astera Labs’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts expect that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their price target on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Roth Mkm decreased their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Needham & Company LLC lowered their price target on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and a consensus price target of $71.36.

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.