Everence Capital Management Inc. Buys Shares of 3,870 Astera Labs, Inc. (NASDAQ:ALAB)

Everence Capital Management Inc. bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,870 shares of the company’s stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors have also modified their holdings of ALAB. Bank of New York Mellon Corp acquired a new position in Astera Labs in the 2nd quarter valued at approximately $8,361,000. Rhumbline Advisers acquired a new position in shares of Astera Labs in the second quarter worth $1,009,000. Victory Capital Management Inc. purchased a new stake in shares of Astera Labs during the second quarter worth $815,000. Ground Swell Capital LLC acquired a new stake in Astera Labs during the second quarter valued at $524,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Astera Labs by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock valued at $5,531,000 after purchasing an additional 2,343 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insider Activity

In other news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the sale, the insider now directly owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. This represents a 48.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the transaction, the director now owns 137,000 shares of the company’s stock, valued at $8,451,530. The trade was a 2.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,978,119 shares of company stock valued at $186,618,509.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Northland Securities lowered shares of Astera Labs from an “outperform” rating to a “market perform” rating and raised their price objective for the company from $100.00 to $120.00 in a research report on Thursday. Roth Mkm boosted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus upped their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.58.

Astera Labs Price Performance

NASDAQ:ALAB opened at $140.93 on Monday. The business’s 50-day moving average price is $109.63 and its two-hundred day moving average price is $71.65. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.36.

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