500 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Hollencrest Capital Management

Hollencrest Capital Management acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 500 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds have also recently modified their holdings of the business. US Bancorp DE bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $46,000. Allworth Financial LP boosted its holdings in 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 acquiring an additional 891 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Astera Labs in the second quarter worth $74,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Astera Labs by 11,920.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after acquiring an additional 2,980 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new position in shares of Astera Labs in the 2nd quarter worth about $207,000.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Evercore ISI dropped their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Craig Hallum lifted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus increased their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average target price of $92.36.

Astera Labs Stock Performance

Shares of ALAB opened at $99.30 on Friday. The business has a 50-day simple moving average of $59.05 and a two-hundred day simple moving average of $58.87. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $99.84.

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, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $97.50 million. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. Analysts forecast that Astera Labs, Inc. will post -0.54 EPS for the current year.

Insider Activity

In related news, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares of the company’s stock, valued at approximately $9,443,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the transaction, the general counsel now owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack R. Lazar sold 2,000 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.95, for a total transaction of $139,900.00. Following the transaction, the director now directly owns 135,000 shares of the company’s stock, valued at $9,443,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 614,458 shares of company stock worth $36,455,841 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.