Fmr LLC Raises Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Fmr LLC raised its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,504,038 shares of the company’s stock after purchasing an additional 153,491 shares during the quarter. Fmr LLC owned approximately 0.15% of Astera Labs worth $1,231,377,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ALAB. Vanguard Group Inc. purchased a new position in Astera Labs during the 1st quarter valued at $127,268,000. Westfield Capital Management Co. LP purchased a new position in Astera Labs during the 3rd quarter valued at $52,049,000. The Manufacturers Life Insurance Company increased its position 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 valued at $46,054,000 after purchasing an additional 873,412 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Astera Labs during the 1st quarter valued at $44,514,000. Finally, TimesSquare Capital Management LLC increased its position in Astera Labs by 158,424.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock valued at $16,859,000 after purchasing an additional 321,601 shares during the period.

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares in the company, valued at approximately $51,178,789.20. The trade was a 6.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. This represents a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,774,454 shares of company stock worth $151,560,234 in the last three months.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $105.48 on Wednesday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $113.85. The company has a 50 day moving average of $72.05 and a 200 day moving average of $60.30.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s revenue 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 fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on ALAB shares. Citigroup initiated coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Craig Hallum raised their target price on shares of 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 reiterated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Stifel Nicolaus lifted their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays lifted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs presently has an average rating of “Buy” and an average target price of $94.67.

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.