Geode Capital Management LLC Raises Position in Astera Labs, Inc. (NASDAQ:ALAB)

Geode Capital Management LLC boosted its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 444,887 shares of the company's stock after buying an additional 3,628 shares during the quarter. Geode Capital Management LLC owned approximately 0.28% of Astera Labs worth $23,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Strategic Blueprint LLC boosted its stake in shares of Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock valued at $298,000 after purchasing an additional 195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company's stock valued at $277,000 after purchasing an additional 284 shares during the last quarter. Hollencrest Capital Management acquired a new stake in Astera Labs in the third quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its stake in shares of Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock worth $126,000 after buying an additional 500 shares during the last quarter. Finally, US Bancorp DE bought a new stake in shares of Astera Labs during the third quarter worth $46,000. Institutional investors own 60.47% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total value of $1,518,500.00. Following the completion of the transaction, the general counsel now directly owns 300,564 shares of the company's stock, valued at $18,256,257.36. This represents a 7.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares in the company, valued at approximately $11,626,644.90. This represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,978,119 shares of company stock worth $186,618,509 in the last ninety days.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALAB shares. Deutsche Bank Aktiengesellschaft raised their price objective on Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Roth Mkm lifted their price target on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of Astera Labs from $94.00 to $142.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. Finally, Citigroup assumed coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a "buy" rating and a $120.00 price target for the company. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $98.67.

Astera Labs Stock Performance

Astera Labs stock traded down $4.28 during trading hours on Friday, reaching $141.53. 3,444,529 shares of the company's stock were exchanged, compared to its average volume of 3,335,788. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.36. The firm's 50 day simple moving average is $103.02 and its 200 day simple moving average is $69.15.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data 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. 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 analyst estimates of $97.50 million. The company's quarterly revenue was up 47.1% compared to the same quarter last year. As a group, analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

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.