Canton Hathaway LLC Takes $79,000 Position in Astera Labs, Inc. (NASDAQ:ALAB)

Canton Hathaway LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,500 shares of the company’s stock, valued at approximately $79,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. bought a new position in Astera Labs during the 1st quarter worth $127,268,000. Westfield Capital Management Co. LP acquired a new stake in Astera Labs in the 3rd quarter worth about $52,049,000. Price T Rowe Associates Inc. MD bought a new stake in Astera Labs in the 1st quarter valued at about $44,514,000. TimesSquare Capital Management LLC grew its position in shares of Astera Labs by 158,424.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock worth $16,859,000 after purchasing an additional 321,601 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Astera Labs during the first quarter worth approximately $20,025,000.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $106.99 on Monday. The firm has a 50 day moving average price of $69.60 and a two-hundred day moving average price of $59.79. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $109.11.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s revenue was up 47.1% compared to the same quarter last year. On average, equities 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 research analysts recently issued reports on ALAB shares. Evercore ISI reduced their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley boosted their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. 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. Stifel Nicolaus raised their price objective on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $94.67.

Insider Activity

In other news, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 approximately $22,588,533.45. The trade was a 1.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack R. Lazar sold 3,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total transaction of $185,070.00. Following the sale, the director now owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. This trade represents a 2.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,565,576 shares of company stock valued at $129,835,552.

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.