Avior Wealth Management LLC Acquires New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Avior Wealth Management LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,899 shares of the company's stock, valued at approximately $361,000.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. purchased a new stake in shares of Astera Labs in the first quarter worth $127,268,000. Price T Rowe Associates Inc. MD bought a new position in Astera Labs during the first quarter valued at approximately $44,514,000. Capital World Investors purchased a new stake in Astera Labs in the first quarter worth approximately $44,514,000. Bamco Inc. NY purchased a new stake in Astera Labs during the 1st quarter valued at $37,095,000. Finally, TimesSquare Capital Management LLC lifted its holdings in Astera Labs by 158,424.1% in the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company's stock valued at $16,859,000 after acquiring an additional 321,601 shares during the period.

Insider Buying and Selling at Astera Labs

In related news, Director Jack R. Lazar sold 3,000 shares of the business'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 value of $185,070.00. Following the completion of the transaction, the director now owns 137,000 shares of the company's stock, valued at $8,451,530. The trade was a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Philip Mazzara sold 8,000 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $43.12, for a total value of $344,960.00. Following the sale, the general counsel now owns 325,474 shares of the company's stock, valued at $14,034,438.88. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,573,576 shares of company stock worth $130,180,512 over the last 90 days.

Astera Labs Trading Down 1.8 %

Shares of ALAB stock traded down $1.84 on Friday, reaching $102.28. The company's stock had a trading volume of 4,755,348 shares, compared to its average volume of 6,180,733. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $109.11. The stock's fifty day simple moving average is $69.60 and its 200-day simple moving average is $59.85.

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 for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business's revenue was up 47.1% compared to the same quarter last year. Sell-side analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ALAB shares. Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Morgan Stanley boosted their price target on Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Craig Hallum lifted their price objective on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Finally, Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a "buy" rating and a $120.00 target price for the company. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $94.67.

Astera Labs 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.