Stifel Financial Corp Purchases 57,638 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Stifel Financial Corp raised its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 141.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 98,461 shares of the company's stock after buying an additional 57,638 shares during the quarter. Stifel Financial Corp owned about 0.06% of Astera Labs worth $5,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astera Labs during the third quarter worth about $530,000. Avior Wealth Management LLC purchased a new position in shares of Astera Labs in the 3rd quarter worth about $361,000. Maverick Capital Ltd. boosted its holdings 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 purchasing an additional 159,480 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Astera Labs in the 3rd quarter worth about $1,141,000. Finally, Bank of Hawaii purchased a new position in shares of Astera Labs in the 3rd quarter worth about $1,409,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 25,000 shares of the firm's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total value of $1,518,500.00. Following the transaction, the general counsel now directly owns 300,564 shares in the company, valued at $18,256,257.36. This trade represents a 7.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Sanjay Gajendra sold 76,701 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares in the company, valued at approximately $38,748,600. This trade represents a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,154,820 shares of company stock valued at $195,106,438 in the last 90 days.

Wall Street Analysts Forecast Growth

ALAB has been the subject of a number of recent analyst reports. Craig Hallum upped their price target on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Roth Mkm upped their price target on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Stifel Nicolaus upped their price target on Astera Labs from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Citigroup initiated coverage on Astera Labs in a research report on Monday, November 18th. They set a "buy" rating and a $120.00 price target for the company. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $94.67.

Astera Labs Stock Up 7.9 %

Shares of NASDAQ:ALAB traded up $9.69 during trading on Friday, hitting $132.14. The stock had a trading volume of 5,083,477 shares, compared to its average volume of 3,238,231. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $132.68. The firm's fifty day moving average is $88.64 and its 200 day moving average is $64.23.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share 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 company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The business's revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS 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.