Seven Grand Managers LLC Purchases 25,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Seven Grand Managers LLC increased its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 25.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,000 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. Astera Labs comprises about 1.5% of Seven Grand Managers LLC's portfolio, making the stock its 22nd biggest holding. Seven Grand Managers LLC owned 0.08% of Astera Labs worth $6,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the 1st quarter valued at $127,268,000. Capital World Investors bought a new stake in Astera Labs in the first quarter worth about $44,514,000. Price T Rowe Associates Inc. MD acquired a new stake in Astera Labs in the 1st quarter valued at about $44,514,000. Bamco Inc. NY acquired a new stake in Astera Labs in the 1st quarter valued at about $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Astera Labs in the 1st quarter worth approximately $33,141,000.

Insider Activity at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 110,000 shares of the company's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the transaction, the insider now directly owns 835,000 shares of the company's stock, valued at $58,007,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jitendra Mohan sold 47,667 shares of the firm's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the transaction, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjay Gajendra sold 110,000 shares of the company'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. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 564,458 shares of company stock valued at $31,970,841.

Astera Labs Trading Up 0.6 %

NASDAQ:ALAB traded up $0.40 on Thursday, hitting $65.99. 5,343,583 shares of the company's stock traded hands, compared to its average volume of 2,729,520. The firm has a 50-day moving average price of $47.75 and a 200-day moving average price of $58.16. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $95.21.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALAB. Stifel Nicolaus dropped their target price on shares of Astera Labs from $87.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, August 5th. Morgan Stanley increased their price objective on Astera Labs from $55.00 to $74.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Barclays decreased their target price on Astera Labs from $85.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Needham & Company LLC reiterated a "buy" rating and issued a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Astera Labs from $85.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $73.09.

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.