74,000 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 74,000 shares of the company's stock, valued at approximately $3,877,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hollencrest Capital Management acquired a new stake in shares of Astera Labs in the third quarter worth $26,000. US Bancorp DE acquired a new stake in Astera Labs during the 3rd quarter worth about $46,000. First Horizon Advisors Inc. purchased a new position in shares of Astera Labs during the 3rd quarter valued at about $49,000. Allworth Financial LP raised its stake in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock valued at $57,000 after buying an additional 891 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Astera Labs in the 2nd quarter valued at about $74,000.

Insider Transactions at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now owns 855,000 shares of the company's stock, valued at $38,748,600. This trade represents a 8.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stefan A. Dyckerhoff sold 7,814 shares of the company's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total value of $837,426.38. Following the completion of the transaction, the director now directly owns 121,803 shares in the company, valued at approximately $13,053,627.51. This trade represents a 6.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,897,820 shares of company stock worth $168,252,298 in the last quarter.

Astera Labs Price Performance

Shares of NASDAQ ALAB traded up $13.12 during mid-day trading on Tuesday, reaching $116.51. The company's stock had a trading volume of 8,290,921 shares, compared to its average volume of 6,452,659. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $117.26. The stock has a 50-day moving average of $77.58 and a two-hundred day moving average of $61.40.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly 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 firm had revenue of $113.10 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 47.1% on a year-over-year basis. On average, equities analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALAB. Morgan Stanley lifted their price target on Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Stifel Nicolaus increased their price target on shares of Astera Labs from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Citigroup began coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a "buy" rating and a $120.00 price objective for the company. Evercore ISI lowered their target price on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays lifted their price target on Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $94.67.

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.