6,899 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Avior Wealth Management LLC

Avior Wealth Management LLC purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,899 shares of the company’s stock, valued at approximately $361,000.

Several other institutional investors have also bought and sold shares of ALAB. Vanguard Group Inc. bought a new stake in Astera Labs during the first quarter worth $127,268,000. Price T Rowe Associates Inc. MD bought a new position in Astera Labs in the 1st quarter valued at $44,514,000. Capital World Investors bought a new position in Astera Labs in the 1st quarter valued at $44,514,000. Bamco Inc. NY bought a new position in Astera Labs in the 1st quarter valued at $37,095,000. Finally, TimesSquare Capital Management LLC grew its stake in Astera Labs by 158,424.1% in the 3rd quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock valued at $16,859,000 after purchasing an additional 321,601 shares during the period.

Analysts Set New Price Targets

ALAB has been the subject of a number of recent analyst reports. Barclays upped their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI reduced their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Citigroup initiated coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $94.67.

Astera Labs Price Performance

Shares of ALAB opened at $102.28 on Friday. The stock’s 50-day simple moving average is $69.60 and its 200 day simple moving average is $59.97. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $109.11.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. Sell-side analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Stefan A. Dyckerhoff sold 197,297 shares of Astera Labs stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the completion of the sale, the director now owns 6,148 shares in the company, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the sale, the director now owns 135,000 shares of the company’s stock, valued at approximately $9,443,250. This trade represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,573,576 shares of company stock valued at $130,180,512.

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.