Geode Capital Management LLC Buys 3,628 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Geode Capital Management LLC increased its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 444,887 shares of the company’s stock after acquiring an additional 3,628 shares during the quarter. Geode Capital Management LLC owned about 0.28% of Astera Labs worth $23,312,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Fred Alger Management LLC grew its holdings in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the period. Westfield Capital Management Co. LP bought a new stake in Astera Labs in the 3rd quarter valued at about $52,049,000. The Manufacturers Life Insurance Company raised its stake in Astera Labs by 15,477.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after buying an additional 873,412 shares during the period. Spyglass Capital Management LLC bought a new position in Astera Labs in the third quarter worth approximately $38,565,000. Finally, State Street Corp grew its stake in Astera Labs by 173.1% in the third quarter. State Street Corp now owns 698,467 shares of the company’s stock valued at $36,593,000 after acquiring an additional 442,698 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALAB. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum lifted their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $98.67.

Insider Transactions at Astera Labs

In related news, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at approximately $51,178,789.20. This trade represents a 6.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jack R. Lazar sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the sale, the director now directly owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. This represents a 2.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,978,119 shares of company stock valued at $186,618,509.

Astera Labs Trading Down 2.9 %

Astera Labs stock opened at $141.53 on Friday. The business’s 50 day simple moving average is $103.02 and its 200 day simple moving average is $69.12. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.36.

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

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.