International Assets Investment Management LLC Purchases Shares of 65,488 Astera Labs, Inc. (NASDAQ:ALAB)

International Assets Investment Management LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 65,488 shares of the company’s stock, valued at approximately $34,310,000.

A number of other hedge funds have also made changes to their positions in the business. Amalgamated Bank acquired a new stake in Astera Labs in the 2nd quarter valued at $74,000. Newbridge Financial Services Group Inc. grew its stake in shares of Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after buying an additional 2,980 shares in the last quarter. Legato Capital Management LLC purchased a new stake in shares of Astera Labs during the 2nd quarter valued at about $207,000. Alpine Global Management LLC acquired a new position in Astera Labs during the 1st quarter worth approximately $272,000. Finally, Strategic Blueprint LLC purchased a new position in Astera Labs in the 2nd quarter worth approximately $332,000.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the sale, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Sanjay Gajendra sold 110,000 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.47, for a total value of $7,641,700.00. Following the completion of the transaction, the insider now owns 835,000 shares in the company, valued at $58,007,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at approximately $51,178,789.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 564,458 shares of company stock valued at $31,970,841 in the last ninety days.

Astera Labs Stock Up 0.3 %

NASDAQ:ALAB opened at $72.87 on Tuesday. The stock has a 50 day moving average of $51.77 and a 200-day moving average of $57.91. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $95.21.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million for the quarter, compared to the consensus estimate of $72.41 million. The business’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts anticipate 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 recently commented on ALAB shares. Barclays reduced their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley raised their target price on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Craig Hallum dropped their target price on Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus lowered their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, Roth Mkm cut their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $73.09.

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.