Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Strategic Blueprint LLC

Strategic Blueprint LLC increased its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 3.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,684 shares of the company’s stock after acquiring an additional 195 shares during the period. Strategic Blueprint LLC’s holdings in Astera Labs were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares during the last quarter. Amalgamated Bank bought a new stake in Astera Labs in the 2nd quarter valued at about $74,000. Massachusetts Financial Services Co. MA boosted its stake in Astera Labs by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock valued at $5,531,000 after purchasing an additional 2,343 shares during the period. Newbridge Financial Services Group Inc. grew its position in Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after purchasing an additional 2,980 shares during the last quarter. Finally, Legato Capital Management LLC bought a new position in Astera Labs in the 2nd quarter worth about $207,000.

Astera Labs Trading Up 3.5 %

Shares of NASDAQ:ALAB opened at $72.65 on Friday. The stock has a fifty day moving average of $54.35 and a 200-day moving average of $58.12. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $95.21.

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

Wall Street Analysts Forecast Growth

ALAB has been the topic of several recent analyst reports. Roth Mkm cut their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Barclays cut their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Craig Hallum decreased their target price on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus dropped their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Morgan Stanley increased their price objective on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has a consensus rating of “Buy” and a consensus target price of $73.09.

Insiders Place Their Bets

In other news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction that occurred on 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 sale, the general counsel now owns 333,474 shares in the company, valued at $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs 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 transaction, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 50,000 shares of the stock in a transaction dated 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 directly owns 829,108 shares of the company’s stock, valued at approximately $39,780,601.84. This represents 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 worth $31,970,841 over the last ninety 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.