Astera Labs, Inc. (NASDAQ:ALAB) Position Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 15,477.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 879,055 shares of the company’s stock after purchasing an additional 873,412 shares during the period. The Manufacturers Life Insurance Company’s holdings in Astera Labs were worth $46,054,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. purchased a new stake in Astera Labs during the first quarter valued at about $127,268,000. Westfield Capital Management Co. LP purchased a new stake in Astera Labs during the third quarter valued at about $52,049,000. Price T Rowe Associates Inc. MD purchased a new stake in Astera Labs during the first quarter valued at about $44,514,000. TimesSquare Capital Management LLC lifted its position in shares of Astera Labs by 158,424.1% in the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock worth $16,859,000 after purchasing an additional 321,601 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Astera Labs during the first quarter worth approximately $20,025,000.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALAB. Barclays raised their price target on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Craig Hallum raised their price target on shares of Astera Labs from $75.00 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 stock a “buy” rating in a report on Tuesday, November 5th. Finally, Evercore ISI decreased their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $94.67.

Astera Labs Price Performance

NASDAQ:ALAB opened at $99.60 on Friday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $113.85. The company’s 50 day moving average is $74.17 and its 200-day moving average is $60.84.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The business’s quarterly revenue was up 47.1% on a year-over-year basis. Sell-side analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling

In related news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. The trade was a 8.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 7,814 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $107.17, for a total transaction of $837,426.38. Following the transaction, the director now directly owns 121,803 shares in the company, valued at $13,053,627.51. This trade represents a 6.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,897,820 shares of company stock valued at $168,252,298.

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.