Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 11.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,354 shares of the company’s stock after selling 1,475 shares during the period. Sei Investments Co.’s holdings in Astera Labs were worth $687,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALAB. Vanguard Group Inc. acquired a new stake in shares of Astera Labs during the first quarter valued at about $127,268,000. Capital World Investors purchased a new stake in Astera Labs in the first quarter valued at approximately $44,514,000. Price T Rowe Associates Inc. MD acquired a new position in Astera Labs during the first quarter worth $44,514,000. Bamco Inc. NY acquired a new position in Astera Labs during the first quarter worth $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new position in shares of Astera Labs during the first quarter worth $33,141,000.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Evercore ISI decreased their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Roth Mkm lowered their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Barclays dropped their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Craig Hallum decreased their price target on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price objective on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $71.36.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 8,000 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $43.12, for a total value of $344,960.00. Following the transaction, the general counsel now directly owns 325,474 shares of the company’s stock, valued at $14,034,438.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Manuel Alba sold 37,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $50.32, for a total value of $1,861,840.00. Following the completion of the sale, the director now directly owns 498,863 shares of the company’s stock, valued at approximately $25,102,786.16. 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 this hyperlink. Also, General Counsel Philip Mazzara sold 8,000 shares of Astera Labs stock in a transaction on Monday, August 26th. The shares were sold at an average price of $43.12, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,791 shares of company stock worth $12,933,588.

Astera Labs Stock Performance

Astera Labs stock opened at $52.96 on Wednesday. The stock’s fifty day moving average is $44.28 and its two-hundred day moving average is $58.71. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities analysts forecast that Astera Labs, Inc. will post -0.54 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.