Y Intercept Hong Kong Ltd Buys Shares of 65,376 Astera Labs, Inc. (NASDAQ:ALAB)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 65,376 shares of the company's stock, valued at approximately $3,425,000.

Other large investors have also made changes to their positions in the company. Hollencrest Capital Management acquired a new position in Astera Labs during the third quarter valued at $26,000. US Bancorp DE acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $46,000. First Horizon Advisors Inc. purchased a new stake in shares of Astera Labs in the third quarter worth about $49,000. Allworth Financial LP grew its holdings in Astera Labs by 445.5% during 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 period. Finally, Amalgamated Bank purchased a new position in Astera Labs during the second quarter valued at approximately $74,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded up $1.63 during midday trading on Monday, hitting $122.03. The stock had a trading volume of 4,000,295 shares, compared to its average volume of 3,227,524. The stock has a 50 day simple moving average of $82.77 and a 200-day simple moving average of $62.69. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $123.40.

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, 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 analyst estimates of $97.50 million. The business's revenue was up 47.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on ALAB shares. Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Citigroup began coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a "buy" rating and a $120.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Morgan Stanley increased their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Finally, Craig Hallum lifted their price target on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $94.67.

Insider Buying and Selling

In other Astera Labs news, CFO Michael Truett Tate sold 16,000 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the transaction, the chief financial officer now owns 1,412,888 shares of the company's stock, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the company's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the sale, the insider now owns 855,000 shares of the company's stock, valued at approximately $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,154,820 shares of company stock worth $195,106,438.

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.