Bank of Hawaii Makes New $1.41 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Bank of Hawaii purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 26,899 shares of the company’s stock, valued at approximately $1,409,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALAB. Strategic Blueprint LLC grew its position in Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after buying an additional 195 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of Astera Labs during the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC grew its holdings in shares of Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares in the last quarter. US Bancorp DE bought a new position in shares of Astera Labs in the third quarter worth approximately $46,000. Finally, Allworth Financial LP raised its stake in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after purchasing an additional 891 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ALAB shares. Stifel Nicolaus boosted their price target on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Craig Hallum lifted their price target on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays raised their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Citigroup initiated coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $94.67.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares in the company, valued at $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Truett Tate sold 7,398 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $671,812.38. Following the completion of the sale, the chief financial officer now owns 286,424 shares of the company’s stock, valued at $26,010,163.44. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,565,576 shares of company stock worth $129,835,552 over the last quarter.

Astera Labs Stock Performance

ALAB stock opened at $102.28 on Monday. The firm’s 50-day moving average price is $69.60 and its two-hundred day moving average price is $59.79. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $109.11.

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