Highland Capital Management LLC Invests $1.59 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Highland Capital Management LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 30,422 shares of the company's stock, valued at approximately $1,594,000.

A number of other hedge funds have also recently bought and sold shares of the company. Amalgamated Bank bought a new position in shares of Astera Labs in the 2nd quarter worth $74,000. Newbridge Financial Services Group Inc. boosted its position in shares of 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 during the last quarter. Legato Capital Management LLC bought a new position in shares of Astera Labs in the 2nd quarter worth $207,000. Alpine Global Management LLC bought a new position in shares of Astera Labs in the 1st quarter worth $272,000. Finally, Strategic Blueprint LLC bought a new position in shares of Astera Labs in the 2nd quarter worth $332,000.

Insider Activity at Astera Labs

In related news, Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the sale, the director now owns 135,000 shares of the company's stock, valued at approximately $9,443,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares in the company, valued at approximately $9,443,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares of the company's stock, valued at $38,748,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 564,458 shares of company stock valued at $31,970,841.

Astera Labs Price Performance

Shares of NASDAQ:ALAB traded up $2.37 during midday trading on Friday, reaching $72.67. The company had a trading volume of 5,388,433 shares, compared to its average volume of 2,750,773. The business's 50 day moving average price is $51.13 and its 200 day moving average price is $57.92. 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, 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, sell-side analysts forecast that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ALAB shares. Barclays dropped their price objective on Astera Labs from $85.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Evercore ISI dropped their price objective on Astera Labs from $98.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on Astera Labs from $95.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley raised their price objective on Astera Labs from $55.00 to $74.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has an average rating of "Buy" and a consensus target price of $73.09.

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.