Marshall Wace LLP Invests $2.35 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Marshall Wace LLP bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 38,859 shares of the company's stock, valued at approximately $2,351,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in Astera Labs during the first quarter worth approximately $18,666,000. Amazon Com Inc. acquired a new position in Astera Labs during the first quarter worth approximately $20,608,000. Capstone Investment Advisors LLC acquired a new position in Astera Labs during the first quarter worth approximately $4,629,000. Jennison Associates LLC acquired a new position in Astera Labs during the first quarter worth approximately $11,283,000. Finally, Peregrine Asset Advisers Inc. acquired a new position in Astera Labs during the first quarter worth approximately $2,515,000.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 76,701 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now owns 855,000 shares of the company's stock, valued at $38,748,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of Astera Labs stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the transaction, the insider now directly owns 855,000 shares of the company's stock, valued at approximately $38,748,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 8,000 shares of Astera Labs stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $43.12, for a total value of $344,960.00. Following the transaction, the general counsel now directly owns 325,474 shares in the company, valued at $14,034,438.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,791 shares of company stock valued at $12,933,588 in the last 90 days.

Astera Labs Trading Up 7.3 %

Shares of NASDAQ ALAB traded up $3.58 during mid-day trading on Friday, hitting $52.34. 3,775,446 shares of the stock traded hands, compared to its average volume of 2,554,971. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21. The firm has a 50 day simple moving average of $44.05 and a two-hundred day simple moving average of $58.83.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. Astera Labs's revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several research reports. Barclays decreased their target price on Astera Labs from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their price target on Astera Labs from $87.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Needham & Company LLC reduced their price target on Astera Labs from $85.00 to $65.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Craig Hallum reduced their price target on Astera Labs from $90.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Astera Labs from $85.00 to $60.00 and set a "buy" rating on the stock in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $71.36.

Astera Labs 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.