International Assets Investment Management LLC Acquires Shares of 65,488 Astera Labs, Inc. (NASDAQ:ALAB)

International Assets Investment Management LLC purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 65,488 shares of the company's stock, valued at approximately $34,310,000.

Several other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new position in shares of Astera Labs during the 1st quarter worth $952,000. Vanguard Group Inc. purchased a new position in Astera Labs in the first quarter valued at about $127,268,000. Forge First Asset Management Inc. purchased a new position in Astera Labs in the first quarter valued at about $1,143,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Astera Labs during the 1st quarter valued at approximately $44,514,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Astera Labs during the 1st quarter worth approximately $18,666,000.

Astera Labs Stock Up 1.6 %

Shares of NASDAQ:ALAB traded up $1.20 during trading on Tuesday, reaching $74.07. 1,995,299 shares of the stock were exchanged, compared to its average volume of 2,740,122. The firm's 50-day moving average price is $52.46 and its 200 day moving average price is $57.92. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $95.21.

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 (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analysts' expectations of $72.41 million. The company's quarterly revenue was up 17.8% compared to the same quarter last year. Equities analysts forecast that Astera Labs, Inc. will post -0.54 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Evercore ISI cut their price target on Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Morgan Stanley increased their price objective on shares of Astera Labs from $55.00 to $74.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. dropped their target price on shares of Astera Labs from $95.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Finally, Craig Hallum reduced their price target on shares of Astera Labs from $90.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $73.09.

Insider Activity at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 3,000 shares of the business's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total transaction of $185,070.00. Following the transaction, the director now owns 137,000 shares in the company, valued at $8,451,530. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel Philip Mazzara sold 42,090 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the completion of the transaction, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. 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 can be accessed through this link. Also, Director Jack R. Lazar sold 3,000 shares of the firm's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the sale, the director now directly owns 137,000 shares of the company's stock, valued at approximately $8,451,530. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 564,458 shares of company stock worth $31,970,841.

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.