Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC increased its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 81.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,298 shares of the company's stock after buying an additional 20,388 shares during the quarter. Tidal Investments LLC's holdings in Astera Labs were worth $2,373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Blueprint LLC boosted its position in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock worth $298,000 after purchasing an additional 195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Astera Labs by 5.7% during 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 worth $277,000 after purchasing an additional 284 shares in the last quarter. Hollencrest Capital Management purchased a new position in shares of Astera Labs during the third quarter worth $26,000. Venturi Wealth Management LLC grew its stake in shares of Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock valued at $126,000 after buying an additional 500 shares in the last quarter. Finally, US Bancorp DE acquired a new stake in shares of Astera Labs in the third quarter valued at $46,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Stock Down 1.3 %

NASDAQ:ALAB traded down $1.66 during trading hours on Monday, reaching $130.48. 5,844,833 shares of the company's stock were exchanged, compared to its average volume of 3,252,201. The company has a 50-day moving average of $88.64 and a 200 day moving average of $64.21. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $136.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (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 for the quarter, compared to analyst estimates of $97.50 million. The business's revenue was up 47.1% on a year-over-year basis. Sell-side analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Citigroup started coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a "buy" rating and a $120.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Stifel Nicolaus raised their price target 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, Morgan Stanley lifted their target price on Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $94.67.

Insider Activity

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the firm's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. This trade represents a 8.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the transaction, the director now owns 135,000 shares of the company's stock, valued at $9,443,250. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,154,820 shares of company stock valued at $195,106,438 over the last quarter.

About Astera Labs

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.