US Bancorp DE Takes $46,000 Position in Astera Labs, Inc. (NASDAQ:ALAB)

US Bancorp DE bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 873 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Blueprint LLC increased its position in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after purchasing an additional 195 shares during the period. Allworth Financial LP raised its position 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. Highland Capital Management LLC purchased a new stake in shares of Astera Labs during the third quarter valued at $1,594,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Astera Labs in the 3rd quarter valued at $594,000. Finally, Dakota Wealth Management acquired a new position in shares of Astera Labs in the 3rd quarter valued at $2,204,000.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 42,000 shares of Astera Labs stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.56, for a total value of $4,055,520.00. Following the completion of the sale, the general counsel now owns 258,564 shares of the company’s stock, valued at approximately $24,966,939.84. The trade was a 13.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjay Gajendra sold 76,701 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now owns 855,000 shares of the company’s stock, valued at $38,748,600. This represents a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,408,458 shares of company stock worth $113,124,841.

Analysts Set New Price Targets

ALAB has been the subject of a number of analyst reports. Roth Mkm upped their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays upped their price target 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. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Stifel Nicolaus boosted their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Craig Hallum raised their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and a consensus target price of $92.36.

Astera Labs Trading Down 2.3 %

Shares of NASDAQ:ALAB opened at $86.45 on Monday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $100.09. The business has a fifty day simple moving average of $63.88 and a 200 day simple moving average of $59.02.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. Analysts expect that Astera Labs, Inc. will post -0.45 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.