Charles Schwab Investment Management Inc. reduced its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,464 shares of the company's stock after selling 5,030 shares during the period. Charles Schwab Investment Management Inc. owned about 0.07% of Astera Labs worth $6,154,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new position in shares of Astera Labs during the 3rd quarter worth approximately $26,000. US Bancorp DE purchased a new position in Astera Labs during the third quarter worth $46,000. First Horizon Advisors Inc. acquired a new position in shares of Astera Labs in the third quarter worth $49,000. Allworth Financial LP lifted its position in shares of 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 acquiring an additional 891 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Astera Labs during the second quarter valued at $74,000. 60.47% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have issued reports on ALAB. Craig Hallum upped their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Roth Mkm upped their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Stifel Nicolaus increased their price target on Astera Labs from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted 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. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $94.67.
Check Out Our Latest Report on Astera Labs
Astera Labs Stock Down 0.3 %
NASDAQ ALAB traded down $0.34 on Thursday, reaching $122.28. The company had a trading volume of 1,780,864 shares, compared to its average volume of 3,225,360. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $127.25. The firm has a 50-day moving average of $85.57 and a 200-day moving average of $63.44.
Astera Labs (NASDAQ:ALAB - Get Free Report) last posted 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. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million during the quarter, compared to analysts' expectations of $97.50 million. The firm's revenue was up 47.1% on a year-over-year basis. As a group, sell-side analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.
Insiders Place Their Bets
In other Astera Labs news, Director Manuel Alba sold 11,000 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the transaction, the director now owns 456,863 shares of the company's stock, valued at $53,681,402.50. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Truett Tate sold 16,000 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the transaction, the chief financial officer now directly owns 1,412,888 shares of the company's stock, valued at $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,154,820 shares of company stock valued at $195,106,438 in the last quarter.
Astera Labs Profile
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Free Report)
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.
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