Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Invesco Ltd.

Invesco Ltd. lessened its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 53.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,881,519 shares of the company's stock after selling 2,180,913 shares during the quarter. Invesco Ltd. owned about 1.14% of Astera Labs worth $112,270,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ALAB. Hoey Investments Inc. boosted its holdings in Astera Labs by 4.2% in the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock valued at $298,000 after acquiring an additional 200 shares during the last quarter. Sound Income Strategies LLC boosted 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 valued at $47,000 after acquiring an additional 204 shares during the last quarter. Allworth Financial LP boosted its holdings in Astera Labs by 20.4% in the first quarter. Allworth Financial LP now owns 1,394 shares of the company's stock valued at $90,000 after acquiring an additional 236 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 284 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its holdings in Astera Labs by 1.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 28,939 shares of the company's stock valued at $1,727,000 after acquiring an additional 320 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Zacks Research upgraded Astera Labs to a "strong-buy" rating in a report on Tuesday. Morgan Stanley lifted their target price on Astera Labs from $125.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Susquehanna raised their price objective on Astera Labs from $80.00 to $125.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Evercore ISI raised their price objective on Astera Labs from $104.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, Barclays reissued an "overweight" rating and issued a $155.00 price objective (up from $75.00) on shares of Astera Labs in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $129.13.

Insider Buying and Selling at Astera Labs

In related news, COO Sanjay Gajendra sold 280,000 shares of Astera Labs stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $170.02, for a total value of $47,605,600.00. Following the completion of the transaction, the chief operating officer directly owned 5,525,545 shares in the company, valued at approximately $939,453,160.90. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Truett Tate sold 100,000 shares of Astera Labs stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $191.19, for a total value of $19,119,000.00. Following the completion of the transaction, the chief financial officer owned 401,496 shares of the company's stock, valued at $76,762,020.24. This trade represents a 19.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,329,686 shares of company stock valued at $273,512,376. Company insiders own 12.50% of the company's stock.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $185.85 on Friday. Astera Labs, Inc. has a 1 year low of $36.85 and a 1 year high of $199.47. The firm has a market cap of $30.89 billion, a price-to-earnings ratio of 331.88, a PEG ratio of 4.84 and a beta of 1.39. The stock's 50-day simple moving average is $115.49 and its 200-day simple moving average is $90.17.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. The business had revenue of $191.93 million for the quarter, compared to analyst estimates of $172.46 million. During the same period in the previous year, the company earned $0.13 earnings per share. The company's revenue for the quarter was up 149.5% compared to the same quarter last year. As a group, research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

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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