3,775 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,775 shares of the company’s stock, valued at approximately $500,000.

Other hedge funds also recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in shares of Astera Labs during the 3rd quarter worth about $26,000. ORG Wealth Partners LLC bought a new position in Astera Labs during the 4th quarter worth approximately $42,000. US Bancorp DE acquired a new position in Astera Labs during the third quarter valued at approximately $46,000. First Horizon Advisors Inc. bought a new stake in Astera Labs in the third quarter valued at approximately $49,000. Finally, Allworth Financial LP increased its stake in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after purchasing an additional 891 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Craig Hallum lifted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm lifted 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. Northland Securities downgraded Astera Labs from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $100.00 to $120.00 in a report on Thursday, January 2nd. Morgan Stanley cut Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 price objective on the stock. in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Astera Labs has a consensus rating of “Moderate Buy” and an average target price of $109.75.

Insider Transactions at Astera Labs

In related news, Director Manuel Alba sold 11,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the transaction, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the sale, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock worth $167,581,256 in the last three months.

Astera Labs Stock Up 0.6 %

NASDAQ:ALAB opened at $123.73 on Friday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The business has a 50 day moving average price of $121.72 and a two-hundred day moving average price of $78.06.

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. On average, research analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current year.

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.