Banque Cantonale Vaudoise Takes $161,000 Position in Astera Labs, Inc. (NASDAQ:ALAB)

Key Points

• Banque Cantonale Vaudoise has invested approximately $161,000 in Astera Labs, Inc., acquiring 2,702 shares as part of its 1st quarter portfolio.
• Astera Labs reported an EPS of $0.33 for the latest quarter, surpassing the consensus estimate of $0.28, with a revenue growth of 144.1% year-over-year.
• Recent analyst ratings for Astera Labs show a mix of upgrades and downgrades, with a consensus rating of "Moderate Buy" and a target price of $104.40.

Banque Cantonale Vaudoise bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 2,702 shares of the company's stock, valued at approximately $161,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sound Income Strategies LLC boosted its stake in shares of Astera Labs by 34.7% during the 1st 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 last quarter. GAMMA Investing LLC boosted its position in shares of Astera Labs by 55.7% in the 1st quarter. GAMMA Investing LLC now owns 794 shares of the company's stock valued at $47,000 after purchasing an additional 284 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Astera Labs during the 1st quarter worth about $48,000. Hazlett Burt & Watson Inc. increased its position in Astera Labs by 1,670.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 885 shares of the company's stock worth $53,000 after buying an additional 835 shares during the period. Finally, NewEdge Advisors LLC acquired a new stake in Astera Labs in the 4th quarter valued at $63,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Astera Labs Trading Down 1.7%

Shares of NASDAQ:ALAB traded down $2.39 during trading on Tuesday, hitting $135.54. 6,764,598 shares of the company were exchanged, compared to its average volume of 5,822,599. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 616.12, a P/E/G ratio of 6.47 and a beta of 1.39. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm has a fifty day moving average price of $100.36 and a two-hundred day moving average price of $85.78.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The business 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 quarterly revenue was up 144.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. As a group, research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In related news, Director Bethany Mayer sold 686 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $87.47, for a total transaction of $60,004.42. Following the completion of the sale, the director directly owned 6,238 shares in the company, valued at $545,637.86. This represents a 9.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $98.61, for a total value of $16,270,650.00. Following the completion of the transaction, the chief operating officer directly owned 695,000 shares of the company's stock, 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. In the last quarter, insiders have sold 2,181,759 shares of company stock valued at $200,883,431.

Analyst Ratings Changes

ALAB has been the topic of a number of research analyst reports. Needham & Company LLC cut their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Roth Capital set a $100.00 target price on Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Northland Securities lowered shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price objective for the company. in a report on Tuesday, July 22nd. Northland Capmk cut shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Finally, Morgan Stanley lifted their target price on shares of Astera Labs from $99.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.