Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by State Street Corp

State Street Corp increased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 173.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 698,467 shares of the company's stock after buying an additional 442,698 shares during the quarter. State Street Corp owned about 0.44% of Astera Labs worth $36,593,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in Astera Labs during the 3rd quarter valued at about $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs during the third quarter worth about $46,000. First Horizon Advisors Inc. purchased a new stake in Astera Labs in the third quarter valued at approximately $49,000. Allworth Financial LP increased its holdings in Astera Labs by 445.5% in 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. Finally, Amalgamated Bank purchased a new position in Astera Labs during the 2nd quarter worth approximately $74,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Up 5.5 %

Shares of Astera Labs stock traded up $6.89 on Friday, reaching $132.17. The company's stock had a trading volume of 11,481,598 shares, compared to its average volume of 3,334,404. The stock has a 50-day moving average price of $95.41 and a 200-day moving average price of $66.44. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $136.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly 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. The company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company's revenue was up 47.1% on a year-over-year basis. On average, analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on ALAB shares. Craig Hallum upped their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Barclays boosted their price objective on Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs presently has an average rating of "Buy" and an average target price of $98.67.

Insider Transactions at Astera Labs

In other news, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the sale, the director now directly owns 456,863 shares of the company's stock, valued at $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Truett Tate sold 16,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the sale, the chief financial officer now owns 1,412,888 shares of the company's stock, valued at $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,015,119 shares of company stock valued at $188,480,349 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.