Avior Wealth Management LLC Buys Shares of 6,899 Astera Labs, Inc. (NASDAQ:ALAB)

Avior Wealth Management LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,899 shares of the company's stock, valued at approximately $361,000.

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A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALAB. Hollencrest Capital Management bought a new position in Astera Labs in the third quarter valued at about $26,000. US Bancorp DE bought a new stake in shares of Astera Labs during the third quarter worth about $46,000. Allworth Financial LP grew its holdings in shares of 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 purchasing an additional 891 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Astera Labs during the second quarter worth about $74,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock worth $126,000 after purchasing an additional 500 shares during the last quarter.

Insider Transactions at Astera Labs

In other news, insider Sanjay Gajendra sold 740,000 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares of the company's stock, valued at $74,857,250. This represents a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Philip Mazzara sold 8,000 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $43.12, for a total value of $344,960.00. Following the transaction, the general counsel now directly owns 325,474 shares in the company, valued at $14,034,438.88. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,573,576 shares of company stock valued at $130,180,512 over the last ninety days.

Analyst Ratings Changes

• Astera Labs’ Big Stock Jump: Can the Growth Be Sustained?

Several analysts have recently weighed in on ALAB shares. Barclays boosted their price target on Astera Labs from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Citigroup initiated coverage on Astera Labs in a research note on Monday, November 18th. They issued a "buy" rating and a $120.00 price objective on the stock. Evercore ISI cut their price objective on Astera Labs from $98.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs presently has a consensus rating of "Buy" and a consensus target price of $94.67.

Check Out Our Latest Stock Report on Astera Labs

Astera Labs Price Performance

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Shares of ALAB opened at $102.28 on Friday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $109.11. The business's 50 day moving average price is $69.60 and its two-hundred day moving average price is $59.97.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs's revenue for the quarter was up 47.1% on a year-over-year basis. As a group, research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

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.

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