Main Management ETF Advisors LLC Acquires New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Main Management ETF Advisors LLC purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,848 shares of the company's stock, valued at approximately $935,000.

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

Insider Buying and Selling

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the business's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares in the company, valued at $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 129,617 shares of the company's stock, valued at $11,626,644.90. This trade represents a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,154,820 shares of company stock worth $195,106,438.

Analysts Set New Price Targets

ALAB has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Craig Hallum raised their target price on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Barclays lifted their target price on Astera Labs from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Morgan Stanley upped their price target on shares of Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Finally, Roth Mkm lifted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a "buy" 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, the company presently has an average rating of "Buy" and a consensus target price of $94.67.

Astera Labs Stock Performance

Shares of Astera Labs stock traded up $5.72 during trading on Friday, hitting $120.40. The stock had a trading volume of 4,065,807 shares, compared to its average volume of 5,095,545. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $121.20. The stock has a 50 day simple moving average of $80.04 and a 200 day simple moving average of $62.15.

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