Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 253.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 322,993 shares of the company’s stock after purchasing an additional 231,585 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Astera Labs were worth $16,922,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALAB. Hollencrest Capital Management bought a new stake in Astera Labs in the third quarter valued at $26,000. US Bancorp DE bought a new stake in Astera Labs in the 3rd quarter valued at about $46,000. First Horizon Advisors Inc. bought a new stake in Astera Labs in the 3rd quarter valued at about $49,000. Allworth Financial LP boosted its stake in Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after purchasing an additional 891 shares during the period. Finally, Amalgamated Bank bought a new position in Astera Labs in the 2nd quarter worth about $74,000.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $107.31 on Tuesday. The company has a 50-day moving average of $70.87 and a 200-day moving average of $60.05. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $113.85.

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 analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm’s revenue was up 47.1% compared to the same quarter last year. Analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALAB shares. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Roth Mkm lifted their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Citigroup initiated coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has an average rating of “Buy” and an average target price of $94.67.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the sale, the director now owns 135,000 shares in the company, valued at approximately $9,443,250. The trade was a 1.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the transaction, the insider now owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,736,640 shares of company stock valued at $147,545,808 in the last three months.

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.