21,778 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 21,778 shares of the company's stock, valued at approximately $1,141,000.

Other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in shares of Astera Labs during the third quarter valued at about $26,000. US Bancorp DE bought a new position in Astera Labs in the 3rd quarter valued at approximately $46,000. Allworth Financial LP boosted its position in Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after buying an additional 891 shares during the period. Amalgamated Bank bought a new stake in Astera Labs during the 2nd quarter worth approximately $74,000. Finally, Venturi Wealth Management LLC increased its position in Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock valued at $126,000 after acquiring an additional 500 shares during the period.

Insider Buying and Selling at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 197,297 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the sale, the director now owns 6,148 shares in the company, valued at $556,455.48. This represents a 96.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sanjay Gajendra sold 76,701 shares of the firm'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 $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,615,666 shares of company stock valued at $131,882,211.

Astera Labs Trading Up 2.4 %

ALAB traded up $2.24 during midday trading on Wednesday, hitting $97.42. The company had a trading volume of 5,780,433 shares, compared to its average volume of 3,100,462. The stock's 50 day moving average price is $66.06 and its 200 day moving average price is $59.22. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $100.09.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The company's quarterly revenue was up 47.1% on a year-over-year basis. Analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on ALAB shares. Needham & Company LLC reissued a "buy" rating and issued a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Craig Hallum increased their price target on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley increased their target price on shares of Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $94.67.

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.