Sanctuary Advisors LLC Invests $203,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Sanctuary Advisors LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,871 shares of the company’s stock, valued at approximately $203,000.

A number of other large investors have also recently modified their holdings of ALAB. Hollencrest Capital Management bought a new stake in Astera Labs during the 3rd quarter valued at $26,000. US Bancorp DE purchased a new position in shares of Astera Labs in the 3rd quarter valued at approximately $46,000. First Horizon Advisors Inc. acquired a new stake in Astera Labs in the 3rd quarter worth approximately $49,000. Allworth Financial LP grew its holdings in shares of Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in Astera Labs during the 2nd quarter worth about $74,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Trading Down 2.9 %

Shares of ALAB stock opened at $141.53 on Monday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.36. The business’s 50 day moving average is $103.02 and its two-hundred day moving average is $69.18.

Astera Labs (NASDAQ:ALAB) last announced its earnings results 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 for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In other Astera Labs news, General Counsel Philip Mazzara sold 25,000 shares of Astera Labs stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total value of $1,518,500.00. Following the completion of the transaction, the general counsel now directly owns 300,564 shares of the company’s stock, valued at $18,256,257.36. The trade was a 7.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 transaction of $185,070.00. Following the sale, the director now directly owns 137,000 shares in the company, valued at approximately $8,451,530. The trade was a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,978,119 shares of company stock worth $186,618,509.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup assumed coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Roth Mkm lifted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus upped 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $98.67.

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.