Bamco Inc. NY Buys Shares of 500,000 Astera Labs, Inc. (NASDAQ:ALAB)

Bamco Inc. NY bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 500,000 shares of the company’s stock, valued at approximately $37,095,000. Bamco Inc. NY owned 0.32% of Astera Labs at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs in the first quarter valued at $44,514,000. Alpine Global Management LLC bought a new stake in shares of Astera Labs during the 1st quarter valued at $272,000. Capital World Investors bought a new stake in shares of Astera Labs during the 1st quarter valued at $44,514,000. Capital Research Global Investors bought a new stake in shares of Astera Labs during the 1st quarter valued at $22,257,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Astera Labs during the 1st quarter valued at $1,484,000.

Astera Labs Stock Up 0.2 %

NASDAQ ALAB traded up $0.09 during trading hours on Friday, reaching $47.14. 1,825,349 shares of the stock traded hands, compared to its average volume of 1,360,609. The firm has a 50 day moving average price of $60.96. Astera Labs, Inc. has a 1 year low of $45.41 and a 1 year high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($1.62). The business had revenue of $65.26 million during the quarter, compared to analyst estimates of $56.65 million. On average, equities analysts expect that Astera Labs, Inc. will post -0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $85.00 price objective on shares of Astera Labs in a research note on Wednesday, May 8th. JPMorgan Chase & Co. initiated coverage on Astera Labs in a research note on Monday, April 15th. They set an “overweight” rating and a $85.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Astera Labs in a research note on Monday, April 15th. They set a “buy” rating and a $85.00 price objective on the stock. Barclays started coverage on Astera Labs in a research note on Monday, April 15th. They set an “overweight” rating and a $85.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on Astera Labs in a research report on Monday, April 15th. They set a “buy” rating and a $81.00 target price for the company. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average target price of $86.09.

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.