Proficio Capital Partners LLC Makes New $1.11 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Proficio Capital Partners LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 21,236 shares of the company's stock, valued at approximately $1,113,000.

A number of other institutional investors also recently modified their holdings of ALAB. Hollencrest Capital Management acquired a new position in shares of Astera Labs in the 3rd quarter valued at $26,000. US Bancorp DE bought a new position in Astera Labs during the third quarter worth about $46,000. Allworth Financial LP grew its position in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after buying an additional 891 shares during the period. Amalgamated Bank bought a new stake in shares of Astera Labs in the 2nd quarter valued at about $74,000. Finally, Newbridge Financial Services Group Inc. raised 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 valued at $182,000 after acquiring an additional 2,980 shares during the period.

Wall Street Analyst Weigh In

Several analysts recently commented on ALAB shares. JPMorgan Chase & Co. raised their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Barclays raised their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Evercore ISI reduced their price target on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Craig Hallum raised their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, 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. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $92.36.

Astera Labs Stock Up 5.1 %

ALAB stock traded up $4.81 during mid-day trading on Friday, reaching $99.30. The company had a trading volume of 5,016,912 shares, compared to its average volume of 5,387,496. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $99.84. The stock has a 50 day simple moving average of $59.05 and a two-hundred day simple moving average of $58.78.

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, topping 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 analysts' expectations of $97.50 million. The business's revenue was up 47.1% compared to the same quarter last year. Analysts anticipate that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jitendra Mohan sold 47,667 shares of the business's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the sale, the chief executive officer now owns 728,420 shares of the company's stock, valued at approximately $51,178,789.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the company's stock in a transaction on 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 sale, the director now directly owns 135,000 shares in the company, valued at $9,443,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 614,458 shares of company stock valued at $36,455,841 over the last ninety days.

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.