5,554 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Rakuten Securities Inc.

Rakuten Securities Inc. acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,554 shares of the company’s stock, valued at approximately $291,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALAB. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the 3rd quarter valued at approximately $26,000. US Bancorp DE purchased a new stake in shares of Astera Labs in the 3rd quarter worth about $46,000. Allworth Financial LP increased its stake in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares in the last quarter. Amalgamated Bank purchased a new position in Astera Labs during the 2nd quarter valued at about $74,000. Finally, Venturi Wealth Management LLC lifted its position in Astera Labs by 26.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after acquiring an additional 500 shares during the period.

Insider Activity

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director now owns 129,617 shares in the company, valued at approximately $11,626,644.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 sale, the director now owns 135,000 shares of the company’s stock, 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. Insiders have sold 614,458 shares of company stock valued at $36,455,841 in the last ninety days.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALAB. Evercore ISI cut their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Roth Mkm raised their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $92.36.

Astera Labs Stock Performance

ALAB opened at $92.25 on Tuesday. The company’s 50-day simple moving average is $60.03 and its two-hundred day simple moving average is $58.84. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $100.09.

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

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.