Harbour Capital Advisors LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Harbour Capital Advisors LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, Holdings Channel reports. The firm acquired 3,115 shares of the company’s stock, valued at approximately $439,000.

Several other large investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its position in Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after buying an additional 153,491 shares during the period. Fred Alger Management LLC boosted its holdings in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after purchasing an additional 2,628,765 shares during the period. JPMorgan Chase & Co. grew its stake in Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after purchasing an additional 47,569 shares in the last quarter. Maverick Capital Ltd. increased its holdings in Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Astera Labs during the 3rd quarter worth about $52,049,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Astera Labs

In related news, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the transaction, the general counsel now owns 248,745 shares in the company, valued at $22,588,533.45. The trade was a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the company’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 sale, the director now directly owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. This represents a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock worth $167,581,256 in the last 90 days.

Astera Labs Stock Down 1.9 %

Shares of ALAB stock opened at $127.19 on Tuesday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The stock’s 50-day moving average is $116.88 and its two-hundred day moving average is $74.77.

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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ALAB shares. Barclays boosted their price objective on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus raised their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Morgan Stanley boosted their target price on shares of Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Finally, Northland Capmk cut Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $105.75.

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.