Main Management ETF Advisors LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Main Management ETF Advisors LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,848 shares of the company’s stock, valued at approximately $935,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALAB. Hollencrest Capital Management acquired a new stake in Astera Labs during the third quarter worth $26,000. US Bancorp DE acquired a new stake in Astera Labs during the third quarter worth $46,000. First Horizon Advisors Inc. acquired a new stake in Astera Labs during the third quarter worth $49,000. Allworth Financial LP increased its stake in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares during the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Astera Labs during the second quarter worth $74,000.

Analysts Set New Price Targets

Several research analysts have recently commented on ALAB shares. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised 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. Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus raised their price target on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup started coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $94.67.

Insider Transactions at Astera Labs

In related news, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the transaction, the chief financial officer now owns 1,412,888 shares in the company, valued at $166,494,721.92. The trade was a 1.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Manuel Alba sold 11,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now owns 456,863 shares in the company, valued at $53,681,402.50. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,154,820 shares of company stock worth $195,106,438.

Astera Labs Trading Up 5.0 %

ALAB opened at $120.40 on Friday. The business’s 50-day simple moving average is $80.04 and its 200-day simple moving average is $62.15. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $121.20.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping 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 business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, sell-side 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.