7,397 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Janney Capital Management LLC

Janney Capital Management LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,397 shares of the company’s stock, valued at approximately $388,000.

Several other large investors also recently modified their holdings of ALAB. Allspring Global Investments Holdings LLC bought a new stake in shares of Astera Labs in the first quarter worth about $18,666,000. Jennison Associates LLC bought a new stake in Astera Labs during the 1st quarter valued at approximately $11,283,000. Central Pacific Bank Trust Division bought a new stake in Astera Labs during the 1st quarter valued at approximately $402,000. Sei Investments Co. bought a new stake in Astera Labs during the 1st quarter valued at approximately $952,000. Finally, Lord Abbett & CO. LLC bought a new stake in Astera Labs during the 1st quarter valued at approximately $33,141,000.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $72.65 on Monday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21. The company has a 50 day moving average of $54.35 and a 200 day moving average of $57.90.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $72.41 million. The business’s quarterly revenue was up 17.8% on a year-over-year basis. On average, sell-side analysts forecast that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus cut their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Craig Hallum cut their price objective on Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI dropped their price target 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. Finally, Roth Mkm dropped their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $73.09.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 564,458 shares of company stock worth $31,970,841.

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.