Astera Labs, Inc. (NASDAQ:ALAB) Holdings Cut by ING Groep NV

ING Groep NV lowered its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 59.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,700 shares of the company's stock after selling 166,400 shares during the period. ING Groep NV owned about 0.07% of Astera Labs worth $6,844,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ALAB. GAMMA Investing LLC lifted its holdings in Astera Labs by 55.7% in the first quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after acquiring an additional 284 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Astera Labs by 34.7% in the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after acquiring an additional 204 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Astera Labs by 351.7% in the first quarter. Harbour Investments Inc. now owns 795 shares of the company's stock worth $47,000 after acquiring an additional 619 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Astera Labs in the first quarter worth about $48,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in Astera Labs by 1,670.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 885 shares of the company's stock worth $53,000 after acquiring an additional 835 shares during the last quarter. Institutional investors own 60.47% of the company's stock.

Astera Labs Trading Up 5.2%

Shares of NASDAQ:ALAB opened at $137.93 on Tuesday. The stock has a market capitalization of $22.75 billion, a PE ratio of 626.98, a P/E/G ratio of 6.15 and a beta of 1.39. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a fifty day moving average price of $100.36 and a 200 day moving average price of $85.78.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the previous year, the business earned $0.10 EPS. The business's revenue was up 144.1% on a year-over-year basis. On average, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, Director Bethany Mayer sold 686 shares of Astera Labs stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $87.47, for a total value of $60,004.42. Following the transaction, the director directly owned 6,238 shares of the company's stock, valued at $545,637.86. The trade was a 9.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Sanjay Gajendra sold 165,000 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $98.61, for a total transaction of $16,270,650.00. Following the completion of the sale, the chief operating officer owned 695,000 shares in the company, valued at approximately $68,533,950. The trade was a 19.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,181,759 shares of company stock worth $200,883,431.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALAB. Northland Securities cut shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 target price on the stock. in a report on Tuesday, July 22nd. Northland Capmk cut Astera Labs from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Evercore ISI raised their target price on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Jefferies Financial Group raised 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. Finally, William Blair started coverage on Astera Labs in a research report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Astera Labs has a consensus rating of "Moderate Buy" and a consensus target price of $106.73.

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.

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