Magnetar Financial LLC Buys Shares of 20,305 Astera Labs, Inc. (NASDAQ:ALAB)

Magnetar Financial LLC purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,305 shares of the company’s stock, valued at approximately $1,229,000.

A number of other large investors also recently modified their holdings of ALAB. Amalgamated Bank purchased a new stake in Astera Labs in the 2nd quarter worth approximately $74,000. Legato Capital Management LLC purchased a new stake in shares of Astera Labs in the second quarter worth $207,000. Alpine Global Management LLC bought a new stake in Astera Labs during the first quarter valued at $272,000. Strategic Blueprint LLC purchased a new position in Astera Labs during the second quarter worth about $332,000. Finally, Central Pacific Bank Trust Division purchased a new position in Astera Labs during the first quarter worth about $402,000.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was 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 owns 333,474 shares in the company, valued at approximately $13,482,353.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction on 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 transaction, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the firm’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 directly owns 855,000 shares of the company’s stock, valued at $38,748,600. The disclosure for this sale can be found here. Insiders have sold a total of 176,791 shares of company stock worth $7,921,748 in the last 90 days.

Astera Labs Stock Up 0.4 %

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

Astera Labs (NASDAQ:ALAB) last announced 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 firm had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. Astera Labs’s revenue was up 17.8% on a year-over-year basis. On average, equities analysts anticipate that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALAB. Deutsche Bank Aktiengesellschaft dropped their price target 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. Needham & Company LLC dropped their target price on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus decreased their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $71.36.

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.