26,899 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Bank of Hawaii

Bank of Hawaii bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 26,899 shares of the company’s stock, valued at approximately $1,409,000.

Several other large investors have also recently made changes to their positions in ALAB. Sei Investments Co. purchased a new position in shares of Astera Labs in the 1st quarter worth about $952,000. Avior Wealth Management LLC purchased a new position in Astera Labs in the third quarter worth about $361,000. Meeder Asset Management Inc. bought a new position in shares of Astera Labs in the third quarter worth approximately $1,141,000. Vanguard Group Inc. purchased a new stake in shares of Astera Labs during the first quarter valued at approximately $127,268,000. Finally, Rakuten Securities Inc. bought a new stake in shares of Astera Labs during the third quarter valued at approximately $291,000.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $102.28 on Monday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $109.11. The firm has a 50 day moving average of $69.60 and a 200 day moving average of $59.79.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (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 firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The business’s revenue was up 47.1% on a year-over-year basis. Analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALAB shares. Morgan Stanley boosted their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Roth Mkm increased their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup began coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $94.67.

Insider Activity at Astera Labs

In related news, CFO Michael Truett Tate sold 50,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the sale, the chief financial officer now owns 829,108 shares in the company, valued at approximately $39,780,601.84. This represents a 5.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at $22,588,533.45. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,565,576 shares of company stock valued at $129,835,552.

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.