26,899 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Bank of Hawaii

Bank of Hawaii bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,899 shares of the company's stock, valued at approximately $1,409,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALAB. Hollencrest Capital Management bought a new position in Astera Labs during the third quarter worth about $26,000. US Bancorp DE acquired a new position in Astera Labs during the third quarter worth $46,000. First Horizon Advisors Inc. bought a new position in Astera Labs during the 3rd quarter valued at about $49,000. Allworth Financial LP boosted its position in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company's stock valued at $57,000 after buying an additional 891 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Astera Labs during the second quarter worth approximately $74,000.

Analyst Ratings Changes

Several brokerages have recently commented on ALAB. Citigroup started coverage on Astera Labs in a report on Monday, November 18th. They set a "buy" rating and a $120.00 target price on the stock. Roth Mkm upped their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised 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. Barclays upped 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, Craig Hallum raised their target price on Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $94.67.

Insider Buying and Selling

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the completion of the transaction, the director now directly owns 6,148 shares in the company, valued at $556,455.48. The trade was a 96.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jack R. Lazar sold 3,000 shares of the business's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the transaction, the director now directly owns 137,000 shares of the company's stock, valued at $8,451,530. This trade represents a 2.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,565,576 shares of company stock valued at $129,835,552 over the last 90 days.

Astera Labs Stock Performance

Shares of ALAB traded up $7.12 during midday trading on Monday, reaching $109.40. The stock had a trading volume of 5,292,761 shares, compared to its average volume of 3,157,763. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $113.85. The firm has a 50 day simple moving average of $69.60 and a 200-day simple moving average of $59.79.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.23 EPS 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 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 was up 47.1% compared to the same quarter last year. As a group, equities analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

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.