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Trueblood Wealth Management LLC Purchases Shares of 2,500 Astera Labs, Inc. (NASDAQ:ALAB)

Astera Labs logo with Computer and Technology background

Trueblood Wealth Management LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 2,500 shares of the company's stock, valued at approximately $331,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in shares of Astera Labs during the second quarter valued at approximately $1,009,000. Victory Capital Management Inc. bought a new stake in Astera Labs during the 2nd quarter worth about $815,000. Massachusetts Financial Services Co. MA lifted its holdings in Astera Labs by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company's stock valued at $5,531,000 after buying an additional 2,343 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Astera Labs in the 2nd quarter valued at $1,337,000. Finally, Amalgamated Bank bought a new position in shares of Astera Labs in the 2nd quarter worth $74,000. 60.47% of the stock is owned by institutional investors.

Astera Labs Stock Up 4.2 %

Astera Labs stock traded up $5.40 during trading hours on Monday, hitting $133.30. The company had a trading volume of 3,241,856 shares, compared to its average volume of 3,784,042. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The firm has a 50-day moving average of $119.56 and a 200 day moving average of $76.77.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results 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. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business's quarterly revenue was up 47.1% compared to the same quarter last year. As a group, analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insiders Place Their Bets

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now owns 129,617 shares of the company's stock, valued at $11,626,644.90. The trade was a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjay Gajendra sold 740,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the sale, the insider now owns 775,000 shares in the company, valued at $74,857,250. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,690,452 shares of company stock worth $167,581,256 in the last quarter.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup began coverage on Astera Labs in a research note on Monday, November 18th. They issued a "buy" rating and a $120.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Northland Capmk cut shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Stifel Nicolaus raised their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Morgan Stanley boosted their target price on Astera Labs from $94.00 to $142.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $109.75.

Get Our Latest Analysis on Astera Labs

Astera Labs Company Profile

(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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Institutional Ownership by Quarter for Astera Labs (NASDAQ:ALAB)

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