First Horizon Advisors Inc. Purchases Shares of 930 Astera Labs, Inc. (NASDAQ:ALAB)

First Horizon Advisors Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 930 shares of the company’s stock, valued at approximately $49,000.

Several other hedge funds have also recently modified their holdings of ALAB. Hollencrest Capital Management acquired a new stake in Astera Labs in the 3rd quarter worth approximately $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs during the third quarter worth $46,000. Allworth Financial LP increased its position in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares during the period. Amalgamated Bank purchased a new position in Astera Labs in the 2nd quarter worth $74,000. Finally, Venturi Wealth Management LLC raised its stake in Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after acquiring an additional 500 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ALAB shares. Evercore ISI cut their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Roth Mkm raised their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum upped their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley raised their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus upped their price target 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. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $94.67.

Astera Labs Stock Down 1.8 %

NASDAQ ALAB opened at $102.28 on Monday. The stock has a 50-day moving average of $69.60 and a 200 day moving average of $59.79. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $109.11.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm 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%. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. Analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Transactions at Astera Labs

In other news, CFO Michael Truett Tate sold 7,398 shares of Astera Labs stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $671,812.38. Following the sale, the chief financial officer now directly owns 286,424 shares of the company’s stock, valued at $26,010,163.44. The trade was a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Philip Mazzara sold 2,513 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at approximately $22,588,533.45. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,565,576 shares of company stock valued at $129,835,552 over the last 90 days.

About Astera Labs

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.