Rakuten Securities Inc. Purchases New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Rakuten Securities Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,554 shares of the company's stock, valued at approximately $291,000.

Other institutional investors also recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in shares of Astera Labs during the 3rd quarter worth about $26,000. US Bancorp DE purchased a new position in shares of Astera Labs during the third quarter valued at about $46,000. Allworth Financial LP lifted its position in 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 purchasing an additional 891 shares during the period. Amalgamated Bank bought a new position in shares of Astera Labs during the second quarter worth $74,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock worth $126,000 after acquiring an additional 500 shares during the last quarter.

Analyst Upgrades and Downgrades

ALAB has been the subject of several recent analyst reports. Evercore ISI cut their price target on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Barclays boosted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Craig Hallum increased their target price on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Stifel Nicolaus raised their target price on Astera Labs from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Roth Mkm raised their price target on Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $92.36.

Astera Labs Trading Down 2.5 %

Shares of NASDAQ ALAB traded down $2.30 during midday trading on Tuesday, hitting $89.95. The company's stock had a trading volume of 3,439,929 shares, compared to its average volume of 3,035,969. The firm's fifty day moving average price is $60.03 and its 200-day moving average price is $58.84. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $100.09.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. On average, equities analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares in the company, valued at $38,748,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the company's stock in a transaction on 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 sale, the insider now owns 855,000 shares of the company's stock, valued at approximately $38,748,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the sale, the director now owns 129,617 shares of the company's stock, valued at approximately $11,626,644.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 614,458 shares of company stock worth $36,455,841 in the last three months.

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.