Atom Investors LP Buys Shares of 27,410 Astera Labs, Inc. (NASDAQ:ALAB)

Atom Investors LP acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 27,410 shares of the company's stock, valued at approximately $1,436,000.

A number of other large investors also recently modified their holdings of the company. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the third quarter valued at about $26,000. US Bancorp DE purchased a new position in Astera Labs in the 3rd quarter worth approximately $46,000. First Horizon Advisors Inc. bought a new position in Astera Labs in the 3rd quarter worth approximately $49,000. Allworth Financial LP boosted its stake 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 purchasing an additional 891 shares during the period. Finally, Amalgamated Bank purchased a new stake in Astera Labs during the 2nd quarter valued at approximately $74,000.

Analysts Set New Price Targets

ALAB has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Barclays increased their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Stifel Nicolaus lifted their target price on Astera Labs from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Needham & Company LLC restated a "buy" rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Finally, 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. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $94.67.

Astera Labs Stock Performance

NASDAQ:ALAB traded up $9.25 during midday trading on Tuesday, hitting $112.64. 3,182,140 shares of the company traded hands, compared to its average volume of 3,183,149. The firm's fifty day moving average is $75.22 and its 200-day moving average is $60.88. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $113.85.

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

Insider Transactions at Astera Labs

In other news, Director Jack R. Lazar sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the transaction, the director now directly owns 137,000 shares of the company's stock, valued at approximately $8,451,530. This trade represents a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $228,205.53. Following the sale, the general counsel now directly owns 248,745 shares of the company's stock, valued at $22,588,533.45. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,897,820 shares of company stock worth $168,252,298.

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.