21,236 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 21,236 shares of the company’s stock, valued at approximately $1,113,000.

Other institutional investors have also modified their holdings of the company. Strategic Blueprint LLC grew its position in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after acquiring an additional 195 shares during the period. Hollencrest Capital Management acquired a new stake in Astera Labs in the 3rd quarter worth about $26,000. US Bancorp DE acquired a new stake in Astera Labs in the 3rd quarter worth about $46,000. Allworth Financial LP boosted its holdings in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Astera Labs during the 2nd quarter worth approximately $74,000.

Astera Labs Stock Up 5.1 %

Astera Labs stock opened at $99.30 on Friday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $99.84. The stock’s fifty day simple moving average is $59.05 and its 200-day simple moving average is $58.87.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during 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 company’s revenue was up 47.1% on a year-over-year basis. On average, analysts predict that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the transaction, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the transaction, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70. Following the transaction, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 614,458 shares of company stock worth $36,455,841.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ALAB shares. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Barclays lifted their price target on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley boosted their target price on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Craig Hallum boosted their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $92.36.

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.