Caisse DE Depot ET Placement DU Quebec Acquires Shares of 74,000 Astera Labs, Inc. (NASDAQ:ALAB)

Caisse DE Depot ET Placement DU Quebec bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 74,000 shares of the company’s stock, valued at approximately $3,877,000.

A number of other large investors have also modified their holdings of ALAB. Linden Thomas Advisory Services LLC purchased a new stake in shares of Astera Labs during the second quarter worth about $3,187,000. Renaissance Capital LLC bought a new stake in Astera Labs during the second quarter valued at $1,198,000. Great Valley Advisor Group Inc. acquired a new stake in Astera Labs during the second quarter worth about $443,000. Bank of New York Mellon Corp acquired a new stake in shares of Astera Labs during the 2nd quarter worth approximately $8,361,000. Finally, Legato Capital Management LLC bought a new stake in Astera Labs in the 2nd quarter valued at about $207,000.

Insider Transactions at Astera Labs

In related news, Director Stefan A. Dyckerhoff sold 7,814 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total transaction of $837,426.38. Following the transaction, the director now owns 121,803 shares of the company’s stock, valued at approximately $13,053,627.51. This trade represents a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 775,000 shares in the company, valued at $74,857,250. This represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,897,820 shares of company stock valued at $168,252,298.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $103.39 on Tuesday. The company’s fifty day moving average is $75.22 and its two-hundred day moving average is $60.88. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $113.85.

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, topping the consensus estimate 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 firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. On average, equities research analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ALAB shares. Evercore ISI decreased their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus upped their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Barclays boosted their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Citigroup began coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $94.67.

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.