Royal Fund Management LLC Sells 15,900 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Royal Fund Management LLC cut its position in Astera Labs, Inc. (NASDAQ:ALAB) by 83.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,100 shares of the company’s stock after selling 15,900 shares during the quarter. Royal Fund Management LLC’s holdings in Astera Labs were worth $411,000 at the end of the most recent reporting period.

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

Insider Activity

In other Astera Labs 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 transaction of $1,292,500.00. Following the completion of the sale, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the transaction, the insider now owns 775,000 shares in the company, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock worth $167,581,256 over the last three months.

Astera Labs Stock Performance

ALAB stock opened at $124.41 on Wednesday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The firm’s fifty day moving average is $120.38 and its 200 day moving average is $77.29.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Craig Hallum upped their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm raised their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Stifel Nicolaus raised their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $109.75.

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.