Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Pier Capital LLC

Pier Capital LLC boosted its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 187.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,916 shares of the company’s stock after acquiring an additional 54,048 shares during the period. Pier Capital LLC owned about 0.05% of Astera Labs worth $4,344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Astera Labs during the 3rd quarter worth approximately $530,000. Avior Wealth Management LLC bought a new position in Astera Labs during the 3rd quarter worth $361,000. Meeder Asset Management Inc. acquired a new stake in Astera Labs in the third quarter worth $1,141,000. Bank of Hawaii bought a new stake in Astera Labs in the third quarter valued at $1,409,000. Finally, Maverick Capital Ltd. lifted its stake in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after buying an additional 159,480 shares during the last quarter.

Analyst Ratings Changes

ALAB has been the topic of a number of analyst reports. Roth Mkm increased their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus raised their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, Barclays boosted their price target on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $94.67.

Insider Buying and Selling

In other Astera Labs news, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the transaction, the director now owns 456,863 shares in the company, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the sale, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,154,820 shares of company stock worth $195,106,438 in the last ninety days.

Astera Labs Price Performance

ALAB opened at $120.40 on Friday. The stock’s fifty day moving average is $81.38 and its 200-day moving average is $62.40. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $121.20.

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

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.