Chicago Partners Investment Group LLC Buys Shares of 1,741 Astera Labs, Inc. (NASDAQ:ALAB)

Chicago Partners Investment Group LLC purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,741 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fred Alger Management LLC lifted its holdings in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Astera Labs in the 3rd quarter worth approximately $52,049,000. The Manufacturers Life Insurance Company lifted its stake in shares of Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after purchasing an additional 873,412 shares during the period. Spyglass Capital Management LLC purchased a new position in shares of Astera Labs in the third quarter worth approximately $38,565,000. Finally, State Street Corp grew its position in Astera Labs by 173.1% during the third quarter. State Street Corp now owns 698,467 shares of the company’s stock valued at $36,593,000 after buying an additional 442,698 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Manuel Alba sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the sale, the director now owns 456,863 shares in the company, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the transaction, the chief financial officer now directly owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 858,452 shares of company stock valued at $87,564,136.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Roth Mkm upped their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $107.42.

Astera Labs Trading Up 4.8 %

ALAB stock opened at $106.57 on Thursday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The firm’s fifty day simple moving average is $122.20 and its two-hundred day simple moving average is $81.03.

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

About Astera Labs

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.