SG Americas Securities LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

SG Americas Securities LLC purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 11,346 shares of the company's stock, valued at approximately $594,000.

A number of other institutional investors have also modified their holdings of ALAB. Newbridge Financial Services Group Inc. boosted its stake in Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company's stock worth $182,000 after purchasing an additional 2,980 shares in the last quarter. Sycomore Asset Management acquired a new stake in Astera Labs in the 2nd quarter worth approximately $2,038,000. Truist Financial Corp acquired a new stake in Astera Labs in the 2nd quarter worth approximately $353,000. The Manufacturers Life Insurance Company acquired a new stake in Astera Labs in the 2nd quarter worth approximately $341,000. Finally, Millennium Management LLC boosted its stake in Astera Labs by 136.4% in the 2nd quarter. Millennium Management LLC now owns 278,051 shares of the company's stock worth $16,825,000 after purchasing an additional 160,417 shares in the last quarter.

Astera Labs Trading Down 3.8 %

Shares of ALAB stock traded down $2.49 on Tuesday, hitting $62.47. 3,024,666 shares of the stock traded hands, compared to its average volume of 2,701,495. The firm's 50-day moving average price is $46.27 and its two-hundred day moving average price is $58.14. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Astera Labs from $55.00 to $74.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target on shares of Astera Labs from $95.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Craig Hallum reduced their price target on shares of Astera Labs from $90.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Finally, Stifel Nicolaus cut their target price on shares of Astera Labs from $87.00 to $80.00 and set a "buy" rating for the company in a report on Monday, August 5th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $73.09.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the company's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the transaction, the chief executive officer now owns 728,420 shares of the company's stock, valued at $51,178,789.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the business's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total transaction of $139,900.00. Following the sale, the director now directly owns 135,000 shares in the company, valued at $9,443,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jitendra Mohan sold 47,667 shares of the business's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the sale, the chief executive officer now owns 728,420 shares in the company, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 564,458 shares of company stock valued at $31,970,841 over the last 90 days.

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.