JPMorgan Chase & Co. Acquires 47,569 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

JPMorgan Chase & Co. increased its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,568,314 shares of the company's stock after purchasing an additional 47,569 shares during the quarter. JPMorgan Chase & Co. owned 0.99% of Astera Labs worth $82,164,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ALAB. Hollencrest Capital Management acquired a new stake in shares of Astera Labs in the 3rd quarter valued at $26,000. US Bancorp DE bought a new stake in shares of Astera Labs during the 3rd quarter worth $46,000. First Horizon Advisors Inc. acquired a new stake in Astera Labs in the third quarter valued at about $49,000. Allworth Financial LP grew its position in 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 during the last quarter. Finally, Amalgamated Bank acquired a new position in Astera Labs during the second quarter worth about $74,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jack R. Lazar sold 3,000 shares of the business's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the transaction, the director now owns 137,000 shares in the company, valued at $8,451,530. The trade was a 2.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjay Gajendra sold 110,000 shares of the firm's stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the sale, the insider now owns 835,000 shares of the company's stock, valued at $58,007,450. The trade was a 11.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,978,119 shares of company stock worth $186,618,509.

Astera Labs Stock Performance

ALAB stock traded up $6.30 during trading on Friday, hitting $140.93. The company had a trading volume of 2,740,361 shares, compared to its average volume of 2,971,880. The business has a 50-day moving average of $108.26 and a 200-day moving average of $71.06. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.36.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS 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 for the quarter, compared to analyst estimates of $97.50 million. Astera Labs's quarterly revenue was up 47.1% on a year-over-year basis. As a group, research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ALAB shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Roth Mkm raised their target price 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. Stifel Nicolaus upped 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. Northland Capmk downgraded Astera Labs from a "strong-buy" rating to a "hold" rating in a report on Thursday. Finally, Northland Securities lowered Astera Labs from an "outperform" rating to a "market perform" rating and boosted their price objective for the stock from $100.00 to $120.00 in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Astera Labs currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.58.

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.