Janney Capital Management LLC Sells 2,476 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Janney Capital Management LLC lessened its position in Astera Labs, Inc. (NASDAQ:ALABFree Report) by 33.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,921 shares of the company’s stock after selling 2,476 shares during the quarter. Janney Capital Management LLC’s holdings in Astera Labs were worth $652,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fred Alger Management LLC increased its position in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the period. Westfield Capital Management Co. LP bought a new position in Astera Labs in the third quarter worth approximately $52,049,000. The Manufacturers Life Insurance Company increased its holdings in Astera Labs by 15,477.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after purchasing an additional 873,412 shares during the period. Spyglass Capital Management LLC bought a new stake in Astera Labs during the 3rd quarter valued at $38,565,000. Finally, State Street Corp lifted its holdings in shares of 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 buying an additional 442,698 shares during the period. Institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ALAB. Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target 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. Northland Capmk downgraded shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Northland Securities downgraded shares of Astera Labs from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $100.00 to $120.00 in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Astera Labs presently has an average rating of “Moderate Buy” and an average price target of $109.75.

Check Out Our Latest Stock Report on Astera Labs

Astera Labs Stock Down 1.2 %

NASDAQ ALAB opened at $122.95 on Thursday. The stock has a 50-day moving average of $121.05 and a two-hundred day moving average of $77.75. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALABGet Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 net margin of 30.69% and a negative return on equity of 15.57%. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, sell-side analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Activity

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. This trade represents a 27.84 % 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. Also, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the sale, the director now owns 456,863 shares of the company’s stock, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock valued at $167,581,256 in the last ninety days.

Astera Labs Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Astera Labs (NASDAQ:ALAB)

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