Holocene Advisors LP Buys New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Holocene Advisors LP acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 64,090 shares of the company's stock, valued at approximately $3,358,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Great Valley Advisor Group Inc. purchased a new stake in Astera Labs during the second quarter valued at about $443,000. Bank of New York Mellon Corp bought a new stake in Astera Labs in the second quarter valued at approximately $8,361,000. Legato Capital Management LLC purchased a new stake in Astera Labs during the 2nd quarter valued at $207,000. Strategic Blueprint LLC purchased a new stake in Astera Labs in the 2nd quarter worth approximately $332,000. Finally, Essex Financial Services Inc. purchased a new stake in Astera Labs in the second quarter worth $1,304,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on ALAB shares. Roth Mkm boosted their price objective 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. Citigroup started coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a "buy" rating and a $120.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their target price on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Needham & Company LLC restated a "buy" rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, Morgan Stanley increased their price objective on Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $94.67.

Astera Labs Stock Up 5.0 %

Astera Labs stock traded up $5.72 during trading hours on Friday, hitting $120.40. The stock had a trading volume of 4,053,307 shares, compared to its average volume of 3,223,185. The stock's 50-day moving average price is $80.04 and its 200-day moving average price is $62.15. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $121.20.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The company 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%. Astera Labs's revenue was up 47.1% on a year-over-year basis. On average, analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the sale, the insider now owns 775,000 shares of the company's stock, valued at approximately $74,857,250. The trade was a 48.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the sale, the director now owns 506,863 shares of the company's stock, valued at approximately $25,343,150. This represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,154,820 shares of company stock valued at $195,106,438 over the last ninety days.

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.