Sei Investments Co. Sells 1,475 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Sei Investments Co. trimmed its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 11.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,354 shares of the company’s stock after selling 1,475 shares during the period. Sei Investments Co.’s holdings in Astera Labs were worth $687,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ALAB. Vanguard Group Inc. purchased a new stake in Astera Labs in the first quarter valued at about $127,268,000. Forge First Asset Management Inc. purchased a new stake in Astera Labs during the 1st quarter worth approximately $1,143,000. Price T Rowe Associates Inc. MD acquired a new position in Astera Labs during the 1st quarter valued at approximately $44,514,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Astera Labs in the first quarter worth $18,666,000. Finally, Jennison Associates LLC purchased a new stake in shares of Astera Labs during the first quarter valued at $11,283,000.

Astera Labs Stock Up 0.8 %

NASDAQ ALAB opened at $52.96 on Wednesday. The stock has a 50-day moving average of $44.28 and a 200 day moving average of $58.71. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts predict that Astera Labs, Inc. will post -0.54 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALAB. Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a research note on Wednesday, September 4th. Needham & Company LLC dropped their price objective on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays reduced their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus decreased their target price on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Craig Hallum cut their price target 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. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and a consensus price target of $71.36.

Insider Transactions at Astera Labs

In related news, Director Manuel Alba sold 37,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00. Following the transaction, the director now directly owns 498,863 shares of the company’s stock, valued at approximately $25,102,786.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the transaction, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Manuel Alba sold 37,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the sale, the director now directly owns 498,863 shares of the company’s stock, valued at approximately $25,102,786.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,791 shares of company stock valued at $12,933,588 over the last 90 days.

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.