Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by Allworth Financial LP

Allworth Financial LP grew its position in Astera Labs, Inc. (NASDAQ:ALAB) by 445.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,091 shares of the company’s stock after purchasing an additional 891 shares during the period. Allworth Financial LP’s holdings in Astera Labs were worth $57,000 at the end of the most recent quarter.

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

Astera Labs Stock Performance

NASDAQ ALAB opened at $72.65 on Friday. The stock’s 50 day simple moving average is $54.35 and its 200-day simple moving average is $58.12. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. Astera Labs’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Astera Labs, Inc. will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Morgan Stanley raised their target price on Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Roth Mkm dropped their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Barclays lowered their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $73.09.

Insider Buying and Selling

In related news, insider Sanjay Gajendra sold 110,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the sale, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the sale, the general counsel now directly owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sanjay Gajendra sold 110,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the sale, the insider now directly owns 835,000 shares in the company, valued at $58,007,450. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 564,458 shares of company stock worth $31,970,841.

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.