Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Emerald Advisers LLC

Emerald Advisers LLC boosted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 2,078.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,296 shares of the company’s stock after purchasing an additional 6,007 shares during the quarter. Emerald Advisers LLC’s holdings in Astera Labs were worth $330,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALAB. Sei Investments Co. acquired a new position in shares of Astera Labs during the 1st quarter valued at about $952,000. Vanguard Group Inc. acquired a new position in Astera Labs in the 1st quarter valued at about $127,268,000. Forge First Asset Management Inc. purchased a new stake in shares of Astera Labs in the 1st quarter valued at approximately $1,143,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Astera Labs during the 1st quarter worth approximately $44,514,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Astera Labs during the 1st quarter valued at approximately $18,666,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ALAB shares. Evercore ISI lowered their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Craig Hallum lowered their price target on Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays reduced their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley increased their target price on shares of Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Stifel Nicolaus reduced their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $73.09.

Insider Buying and Selling

In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares in the company, valued at $9,443,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Sanjay Gajendra sold 110,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.47, for a total value of $7,641,700.00. Following the completion of the transaction, the insider now owns 835,000 shares in the company, valued at approximately $58,007,450. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jack R. Lazar sold 2,000 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the transaction, the director now directly owns 135,000 shares in the company, valued at $9,443,250. 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 have sold 564,458 shares of company stock worth $31,970,841.

Astera Labs Price Performance

Shares of ALAB stock opened at $72.65 on Monday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $95.21. The firm has a 50 day moving average of $54.35 and a two-hundred day moving average of $57.90.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 revenue for the quarter was up 17.8% on a year-over-year basis. As a group, analysts anticipate that Astera Labs, Inc. will post -0.54 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.