Circle Wealth Management LLC Purchases Shares of 7,231 Astera Labs, Inc. (NASDAQ:ALAB)

Circle Wealth Management LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,231 shares of the company's stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALAB. Hollencrest Capital Management purchased a new stake in Astera Labs in the third quarter worth about $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs during the third quarter worth about $46,000. First Horizon Advisors Inc. purchased a new position in Astera Labs in the third quarter valued at approximately $49,000. Allworth Financial LP lifted its holdings in shares of Astera Labs by 445.5% during the third 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 position in shares of Astera Labs in the second quarter valued at $74,000.

Insider Buying and Selling at Astera Labs

In other news, Director Jack R. Lazar sold 2,000 shares of the business's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now directly owns 135,000 shares of the company's stock, valued at approximately $9,443,250. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jitendra Mohan sold 47,667 shares of the firm's stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. This trade represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,897,820 shares of company stock worth $168,252,298.

Astera Labs Price Performance

Shares of ALAB stock traded up $3.65 during trading hours on Friday, hitting $103.25. The stock had a trading volume of 1,915,788 shares, compared to its average volume of 6,581,640. The stock's 50 day moving average is $75.22 and its 200 day moving average is $60.88. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $113.85.

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 (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business's revenue was up 47.1% on a year-over-year basis. As a group, equities analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

ALAB has been the subject of a number of research analyst reports. Craig Hallum boosted their price target on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Morgan Stanley increased their target price on Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They issued a "buy" rating and a $120.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Barclays upped their price objective 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 currently has an average rating of "Buy" and a consensus price target of $94.67.

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.