Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by State Street Corp

State Street Corp lifted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 173.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 698,467 shares of the company’s stock after buying an additional 442,698 shares during the period. State Street Corp owned approximately 0.44% of Astera Labs worth $36,593,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in Astera Labs during the second quarter worth approximately $8,361,000. Legato Capital Management LLC purchased a new stake in Astera Labs during the 2nd quarter worth $207,000. Strategic Blueprint LLC acquired a new stake in shares of Astera Labs during the second quarter valued at about $332,000. Essex Financial Services Inc. acquired a new stake in Astera Labs during the 2nd quarter valued at approximately $1,304,000. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Astera Labs during the 2nd quarter valued at approximately $1,822,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Transactions at Astera Labs

In related news, Director Jack R. Lazar sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total transaction of $185,070.00. Following the completion of the transaction, the director now owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. The trade was a 2.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Manuel Alba sold 37,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.32, for a total value of $1,861,840.00. Following the transaction, the director now owns 498,863 shares of the company’s stock, valued at approximately $25,102,786.16. This trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,015,119 shares of company stock worth $188,480,349 in the last 90 days.

Astera Labs Stock Up 5.5 %

Astera Labs stock opened at $132.17 on Friday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $136.39. The company has a 50 day moving average price of $95.41 and a 200 day moving average price of $66.41.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business’s revenue was up 47.1% on a year-over-year basis. Research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALAB. Craig Hallum lifted their price target on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley raised their price target on shares of Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Finally, Stifel Nicolaus increased their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $98.67.

Astera Labs 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.