Point72 Asia Singapore Pte. Ltd. purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 10,116 shares of the company's stock, valued at approximately $530,000.
Several other large investors also recently made changes to their positions in ALAB. Strategic Blueprint LLC lifted its stake in Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock valued at $298,000 after acquiring an additional 195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company's stock valued at $277,000 after purchasing an additional 284 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of Astera Labs in the third quarter worth $26,000. Venturi Wealth Management LLC boosted its holdings in Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock worth $126,000 after purchasing an additional 500 shares during the last quarter. Finally, US Bancorp DE bought a new position in Astera Labs in the third quarter valued at $46,000.
Insider Buying and Selling
In other news, Director Jack R. Lazar sold 3,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the transaction, the director now directly owns 137,000 shares in the company, valued at approximately $8,451,530. This represents a 2.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the sale, the director now owns 129,617 shares in the company, valued at $11,626,644.90. This represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,897,820 shares of company stock worth $168,252,298.
Astera Labs Trading Up 12.7 %
NASDAQ:ALAB traded up $13.12 during trading hours on Tuesday, reaching $116.51. 8,290,921 shares of the company were exchanged, compared to its average volume of 6,452,659. The business has a 50 day moving average of $77.58 and a 200 day moving average of $61.40. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $117.26.
Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The company's revenue for the quarter was up 47.1% on a year-over-year basis. On average, research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.
Analysts Set New Price Targets
ALAB has been the subject of a number of recent research reports. Evercore ISI reduced their price objective on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. Barclays upped their price objective on Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Stifel Nicolaus increased their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $94.67.
View Our Latest Analysis on Astera Labs
About Astera Labs
(
Free Report)
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.
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