12,200 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Paloma Partners Management Co

Paloma Partners Management Co purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,200 shares of the company's stock, valued at approximately $639,000.

Other hedge funds have also made changes to their positions in the company. Fred Alger Management LLC raised its position in Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock valued at $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Astera Labs in the third quarter worth $52,049,000. The Manufacturers Life Insurance Company lifted its position in Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock worth $46,054,000 after purchasing an additional 873,412 shares during the period. Spyglass Capital Management LLC bought a new position in Astera Labs in the third quarter worth $38,565,000. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of Astera Labs by 158,424.1% during the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company's stock valued at $16,859,000 after acquiring an additional 321,601 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALAB shares. Citigroup started coverage on Astera Labs in a report on Monday, November 18th. They issued a "buy" rating and a $120.00 price target for the company. Craig Hallum lifted their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Roth Mkm boosted their target price on Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC restated a "buy" rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $94.67.

Insider Buying and Selling at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 7,814 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $107.17, for a total transaction of $837,426.38. Following the sale, the director now directly owns 121,803 shares of the company's stock, valued at approximately $13,053,627.51. This represents a 6.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42. Following the sale, the chief executive officer now directly owns 728,420 shares in the company, valued at approximately $51,178,789.20. This trade represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,127,820 shares of company stock valued at $191,928,498 in the last ninety days.

Astera Labs Trading Down 1.1 %

Shares of Astera Labs stock traded down $1.24 on Wednesday, reaching $115.27. 4,670,312 shares of the company were exchanged, compared to its average volume of 3,220,764. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $121.20. The company has a 50-day moving average of $78.84 and a 200 day moving average of $61.78.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs's revenue was up 47.1% compared to the same quarter last year. Equities research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

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.