Paloma Partners Management Co Buys Shares of 12,200 Astera Labs, Inc. (NASDAQ:ALAB)

Paloma Partners Management Co purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,200 shares of the company’s stock, valued at approximately $639,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ALAB. Strategic Blueprint LLC boosted its position in Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after buying an additional 195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after acquiring an additional 284 shares in the last quarter. Hollencrest Capital Management purchased a new position in Astera Labs in the third quarter valued at $26,000. Venturi Wealth Management LLC grew its stake in Astera Labs by 26.3% during the 3rd 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. Finally, US Bancorp DE purchased a new stake in Astera Labs during the 3rd quarter worth about $46,000.

Astera Labs Stock Up 12.7 %

Shares of ALAB stock opened at $116.51 on Wednesday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $117.26. The stock’s 50-day moving average is $77.58 and its two-hundred day moving average is $61.40.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. Research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Jack R. Lazar sold 3,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the sale, the director now directly owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. This represents a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanjay Gajendra sold 76,701 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the transaction, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. This represents a 8.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,897,820 shares of company stock worth $168,252,298 in the last 90 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALAB shares. Needham & Company LLC reiterated 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 lifted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus increased their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Craig Hallum increased their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $94.67.

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.