Van ECK Associates Corp Buys New Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Van ECK Associates Corp acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,814 shares of the company's stock, valued at approximately $462,000.

Other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE bought a new position in Astera Labs in the third quarter worth $46,000. Allworth Financial LP grew its stake in shares of Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after acquiring an additional 891 shares during the last quarter. Amalgamated Bank purchased a new stake in shares of Astera Labs in the second quarter worth $74,000. Newbridge Financial Services Group Inc. grew its stake in shares of Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company's stock worth $182,000 after acquiring an additional 2,980 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new stake in shares of Astera Labs in the second quarter worth $207,000.

Astera Labs Stock Down 1.6 %

ALAB stock traded down $1.45 during trading on Wednesday, reaching $89.30. The stock had a trading volume of 3,162,844 shares, compared to its average volume of 3,042,365. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $100.09. The stock's 50 day moving average is $61.06 and its two-hundred day moving average is $58.88.

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, 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 for the quarter, compared to the consensus estimate of $97.50 million. The business's quarterly revenue was up 47.1% on a year-over-year basis. As a group, analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, 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 value of $71,476,600.00. Following the transaction, the insider now owns 775,000 shares of the company's stock, valued at approximately $74,857,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sanjay Gajendra sold 740,000 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 775,000 shares of the company's stock, valued at $74,857,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 8,000 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $43.12, for a total value of $344,960.00. Following the completion of the transaction, the general counsel now directly owns 325,474 shares in the company, valued at $14,034,438.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,408,458 shares of company stock valued at $113,124,841.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Barclays increased their target price on Astera Labs from $70.00 to $87.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley increased their price objective on Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $92.36.

Astera Labs 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.