PDT Partners LLC Buys New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

PDT Partners LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 35,000 shares of the company’s stock, valued at approximately $1,834,000.

Several other large investors have also recently bought and sold shares of the stock. Strategic Blueprint LLC increased its position in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after purchasing an additional 195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Astera Labs by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after buying an additional 284 shares during the last quarter. Hollencrest Capital Management acquired a new position in Astera Labs during the third quarter worth $26,000. Venturi Wealth Management LLC raised its position in Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after acquiring an additional 500 shares in the last quarter. Finally, US Bancorp DE acquired a new stake in Astera Labs in the third quarter valued at $46,000.

Astera Labs Price Performance

NASDAQ ALAB opened at $103.25 on Friday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $113.85. The firm has a 50-day moving average price of $75.22 and a two-hundred day moving average price of $61.00.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s revenue was up 47.1% on a year-over-year basis. On average, research analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the transaction, the director now owns 137,000 shares in the company, valued at $8,451,530. The trade was a 2.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the sale, the insider now owns 775,000 shares in the company, 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. In the last 90 days, insiders sold 1,897,820 shares of company stock valued at $168,252,298.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALAB. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum lifted their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm increased their price target on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays lifted their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and a consensus target price of $94.67.

Astera Labs 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.