Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by American Century Companies Inc.

American Century Companies Inc. lessened its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 56.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,936 shares of the company’s stock after selling 173,948 shares during the quarter. American Century Companies Inc. owned 0.09% of Astera Labs worth $8,286,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several equities analysts have commented on ALAB shares. Barclays dropped their price target on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Craig Hallum cut their price target on Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Roth Mkm lowered their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their target price on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus decreased their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $71.36.

Insiders Place Their Bets

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

Astera Labs Stock Up 0.4 %

Shares of Astera Labs stock opened at $50.70 on Tuesday. The firm has a fifty day moving average of $44.10. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $95.21.

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

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.