Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by Pier Capital LLC

Pier Capital LLC raised its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 187.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,916 shares of the company's stock after purchasing an additional 54,048 shares during the period. Pier Capital LLC owned about 0.05% of Astera Labs worth $4,344,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ALAB. Hollencrest Capital Management purchased a new position in shares of Astera Labs during the third quarter valued at $26,000. US Bancorp DE purchased a new position in Astera Labs during the 3rd quarter valued at about $46,000. First Horizon Advisors Inc. purchased a new position in Astera Labs during the 3rd quarter valued at about $49,000. Allworth Financial LP lifted its position in shares of 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 purchasing an additional 891 shares during the period. Finally, Amalgamated Bank purchased a new stake in shares of Astera Labs in the 2nd quarter worth approximately $74,000.

Insider Buying and Selling at Astera Labs

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the business's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares in the company, valued at $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the company's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares in the company, valued at approximately $51,178,789.20. The trade was a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,154,820 shares of company stock worth $195,106,438.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ALAB shares. Citigroup started coverage on shares of Astera Labs in a report on Monday, November 18th. They set a "buy" rating and a $120.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised 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. Needham & Company LLC reiterated a "buy" rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Finally, Roth Mkm raised their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs has an average rating of "Buy" and an average price target of $94.67.

Astera Labs Stock Up 5.0 %

NASDAQ:ALAB traded up $5.72 during trading hours on Friday, hitting $120.40. 4,065,807 shares of the company were exchanged, compared to its average volume of 5,095,545. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $121.20. The company's 50 day moving average price is $81.38 and its 200-day moving average price is $62.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million for 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 firm's revenue for the quarter was up 47.1% compared to the same quarter last year. Analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

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.