Proficio Capital Partners LLC Invests $1.11 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Proficio Capital Partners LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,236 shares of the company’s stock, valued at approximately $1,113,000.

A number of other hedge funds have also recently made changes to their positions in ALAB. Hollencrest Capital Management bought a new position in shares of Astera Labs in the third quarter worth about $26,000. US Bancorp DE purchased a new stake in shares of Astera Labs in the third quarter worth about $46,000. Allworth Financial LP lifted its position in shares of Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Astera Labs in the second quarter worth about $74,000. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after buying an additional 2,980 shares in the last quarter.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $99.30 on Friday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $99.84. The business’s 50 day moving average is $59.05 and its 200 day moving average is $58.87.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, sell-side analysts forecast that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ALAB. Craig Hallum upped their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus increased their price target on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs presently has an average rating of “Buy” and an average price target of $92.36.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Michael Truett Tate sold 50,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total value of $2,399,000.00. Following the completion of the sale, the chief financial officer now owns 829,108 shares of the company’s stock, valued at $39,780,601.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares of the company’s stock, valued at $13,482,353.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 614,458 shares of company stock valued at $36,455,841.

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.