23,330 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,330 shares of the company's stock, valued at approximately $1,392,000.

Several other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its stake in Astera Labs by 55.7% in the first quarter. GAMMA Investing LLC now owns 794 shares of the company's stock valued at $47,000 after buying an additional 284 shares during the period. Sound Income Strategies LLC raised its stake in Astera Labs by 34.7% in the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock valued at $47,000 after buying an additional 204 shares during the period. Harbour Investments Inc. raised its stake in Astera Labs by 351.7% in the first quarter. Harbour Investments Inc. now owns 795 shares of the company's stock valued at $47,000 after buying an additional 619 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Astera Labs in the first quarter valued at approximately $48,000. Finally, Hazlett Burt & Watson Inc. raised its stake in Astera Labs by 1,670.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 885 shares of the company's stock valued at $53,000 after buying an additional 835 shares during the period. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Trading Down 4.1%

Shares of Astera Labs stock opened at $131.10 on Monday. The business has a 50-day moving average price of $99.49 and a two-hundred day moving average price of $85.75. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a market cap of $21.62 billion, a P/E ratio of 595.94, a PEG ratio of 6.15 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The firm's revenue for the quarter was up 144.1% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. Equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the transaction, the insider owned 755,000 shares of the company's stock, valued at $54,178,800. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Truett Tate sold 500,000 shares of Astera Labs stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the transaction, the chief financial officer directly owned 618,996 shares in the company, valued at approximately $55,852,009.08. This represents a 44.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,181,759 shares of company stock worth $200,883,431.

Analysts Set New Price Targets

ALAB has been the topic of several research analyst reports. Susquehanna initiated coverage on Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective on the stock. Northland Capmk lowered Astera Labs from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 22nd. Jefferies Financial Group upped their target price on Astera Labs from $95.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Roth Capital set a $100.00 target price on Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley upped their target price on Astera Labs from $99.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $104.40.

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.

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