Emerald Advisers LLC Boosts Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Emerald Advisers LLC grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 2,078.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,296 shares of the company’s stock after purchasing an additional 6,007 shares during the quarter. Emerald Advisers LLC’s holdings in Astera Labs were worth $330,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. bought a new position in Astera Labs in the first quarter worth approximately $127,268,000. Capital World Investors bought a new position in shares of Astera Labs in the 1st quarter worth $44,514,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Astera Labs during the 1st quarter worth $44,514,000. Bamco Inc. NY bought a new stake in shares of Astera Labs in the 1st quarter valued at about $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Astera Labs in the first quarter valued at approximately $33,141,000.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Craig Hallum reduced their price objective on Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley upped their target price on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price target on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays dropped their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $73.09.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the sale, the general counsel now owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the transaction, the general counsel now owns 333,474 shares in the company, valued at $13,482,353.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the sale, the director now owns 135,000 shares in the company, valued at approximately $9,443,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 564,458 shares of company stock valued at $31,970,841 in the last three months.

Astera Labs Stock Performance

ALAB stock opened at $72.65 on Monday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $95.21. The firm’s fifty day moving average is $54.35 and its 200 day moving average is $57.90.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The business’s revenue was up 17.8% on a year-over-year basis. As a group, research analysts expect that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal 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.