3,870 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,870 shares of the company’s stock, valued at approximately $513,000.

Several other hedge funds have also recently bought and sold shares of the stock. Hollencrest Capital Management bought a new stake in shares of Astera Labs in the third quarter valued at about $26,000. GAMMA Investing LLC raised its stake in Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after purchasing an additional 224 shares in the last quarter. US Bancorp DE bought a new stake in Astera Labs in the 3rd quarter valued at about $46,000. First Horizon Advisors Inc. acquired a new position in shares of Astera Labs during the 3rd quarter worth approximately $49,000. Finally, Allworth Financial LP increased 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 period. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total transaction of $185,070.00. Following the transaction, the director now owns 137,000 shares in the company, valued at approximately $8,451,530. The trade was a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Manuel Alba sold 11,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the sale, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,978,119 shares of company stock valued at $186,618,509.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $140.93 on Monday. The company’s 50 day moving average price is $109.63 and its two-hundred day moving average price is $71.65. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.36.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data 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 company had revenue of $113.10 million for 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%. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

ALAB has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Northland Securities downgraded Astera Labs from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $100.00 to $120.00 in a research note on Thursday. Citigroup initiated coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Finally, Barclays boosted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Astera Labs presently has an average rating of “Moderate Buy” and an average price target of $101.58.

Astera Labs 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.