Sanctuary Advisors LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Sanctuary Advisors LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,871 shares of the company's stock, valued at approximately $203,000.

Several other institutional investors also recently bought and sold shares of ALAB. FMR LLC boosted its holdings in shares of Astera Labs by 0.7% during the third quarter. FMR LLC now owns 23,504,038 shares of the company's stock worth $1,231,377,000 after purchasing an additional 153,491 shares during the period. Fred Alger Management LLC lifted its holdings in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock worth $147,840,000 after buying an additional 2,628,765 shares during the period. Maverick Capital Ltd. grew its position in shares of Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock worth $60,575,000 after buying an additional 159,480 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Astera Labs during the third quarter valued at approximately $52,049,000. Finally, The Manufacturers Life Insurance Company lifted its stake 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 acquiring an additional 873,412 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALAB. Stifel Nicolaus upped their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. 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. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Morgan Stanley lifted their price target on Astera Labs from $94.00 to $142.00 and gave the company an "overweight" rating in a research report on Friday, December 20th. Finally, Citigroup started coverage on Astera Labs in a report on Monday, November 18th. They issued a "buy" rating and a $120.00 price objective for the company. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $98.67.

Astera Labs Stock Down 3.6 %

Astera Labs stock traded down $5.11 during trading hours on Monday, hitting $136.42. The stock had a trading volume of 3,077,486 shares, compared to its average volume of 3,334,511. The stock's 50-day moving average price is $104.40 and its 200-day moving average price is $69.70. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.36.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data 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. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs's revenue was up 47.1% on a year-over-year basis. On average, analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the sale, the insider now owns 775,000 shares of the company's stock, valued at $74,857,250. The trade was a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jack R. Lazar sold 3,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were 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 disclosure for this sale can be found here. Insiders have sold 1,978,119 shares of company stock valued at $186,618,509 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.