Alpine Global Management LLC Invests $272,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Alpine Global Management LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 3,668 shares of the company’s stock, valued at approximately $272,000.

Several other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in shares of Astera Labs during the first quarter valued at $402,000. Sei Investments Co. purchased a new position in shares of Astera Labs during the first quarter valued at $952,000. Forge First Asset Management Inc. purchased a new position in shares of Astera Labs during the first quarter valued at $1,143,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Astera Labs during the first quarter valued at $1,484,000. Finally, Value Aligned Research Advisors LLC purchased a new position in shares of Astera Labs during the first quarter valued at $1,886,000.

Analysts Set New Price Targets

Several research firms have issued reports on ALAB. Roth Mkm began coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 target price on the stock. Evercore ISI began coverage on Astera Labs in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $100.00 target price on the stock. Stifel Nicolaus began coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $81.00 target price on the stock. Jefferies Financial Group began coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $85.00 target price on shares of Astera Labs in a research note on Wednesday, May 8th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $86.09.

Astera Labs Trading Up 0.2 %

ALAB traded up $0.09 during mid-day trading on Friday, hitting $47.14. 1,825,349 shares of the stock were exchanged, compared to its average volume of 1,360,609. The firm’s fifty day moving average price is $60.96. Astera Labs, Inc. has a 1-year low of $45.41 and a 1-year high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, May 7th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($1.62). The company had revenue of $65.26 million during the quarter, compared to analysts’ expectations of $56.65 million. On average, research analysts forecast that Astera Labs, Inc. will post -0.56 earnings per share for the current 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.