Rakuten Securities Inc. Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

Rakuten Securities Inc. bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, Holdings Channel reports. The fund bought 5,554 shares of the company’s stock, valued at approximately $291,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALAB. Vanguard Group Inc. bought a new position in shares of Astera Labs in the first quarter worth approximately $127,268,000. Price T Rowe Associates Inc. MD bought a new stake in Astera Labs during the first quarter valued at about $44,514,000. Capital World Investors purchased a new position in shares of Astera Labs in the first quarter valued at about $44,514,000. Bamco Inc. NY bought a new position in shares of Astera Labs in the first quarter worth about $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new position in Astera Labs in the 1st quarter worth approximately $33,141,000.

Astera Labs Trading Down 7.1 %

ALAB opened at $92.25 on Tuesday. The stock has a 50-day moving average of $60.03 and a 200 day moving average of $58.84. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $100.09.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ALAB shares. Morgan Stanley lifted their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Roth Mkm boosted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus raised their price objective on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI decreased their target price 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. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and an average target price of $92.36.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction dated 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 completion of the sale, the general counsel now owns 333,474 shares of the company’s stock, valued at $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jack R. Lazar sold 2,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares in the company, valued at $9,443,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 42,090 shares of the company’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 completion of the transaction, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 614,458 shares of company stock valued at $36,455,841.

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.