Blair William & Co. IL Purchases Shares of 8,625 Astera Labs, Inc. (NASDAQ:ALAB)

Key Points

• Blair William & Co. IL established a $515,000 position in Astera Labs, purchasing 8,625 shares in the first quarter, reflecting growing institutional interest in the company.
• A surge in stock value led to a 7.0% increase, with shares reaching $192.00, and a market capitalization of $31.91 billion.
• Astera Labs reported a 149.5% increase in year-over-year revenue, with quarterly earnings exceeding analyst estimates, highlighting strong financial performance.

Blair William & Co. IL acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 8,625 shares of the company's stock, valued at approximately $515,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Nova Scotia grew its position in Astera Labs by 3,742.2% in the 1st quarter. Bank of Nova Scotia now owns 964,400 shares of the company's stock valued at $57,546,000 after buying an additional 939,300 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Astera Labs by 11.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,268 shares of the company's stock valued at $314,000 after buying an additional 560 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in Astera Labs in the 1st quarter valued at $527,000. Blueshift Asset Management LLC acquired a new stake in Astera Labs in the first quarter valued at $724,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Astera Labs in the first quarter valued at $1,392,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

ALAB stock traded down $7.03 during trading on Friday, hitting $183.66. The stock had a trading volume of 1,397,361 shares, compared to its average volume of 4,957,324. The company's 50 day moving average price is $113.59 and its two-hundred day moving average price is $89.51. Astera Labs, Inc. has a 1-year low of $36.85 and a 1-year high of $199.47. The stock has a market cap of $30.53 billion, a price-to-earnings ratio of 327.68, a price-to-earnings-growth ratio of 4.91 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.11. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The firm had revenue of $191.93 million during the quarter, compared to the consensus estimate of $172.46 million. During the same quarter in the previous year, the company posted $0.13 EPS. The firm's revenue for the quarter was up 149.5% on a year-over-year basis. As a group, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of recent analyst reports. Morgan Stanley raised 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 target price on Astera Labs from $80.00 to $125.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Roth Capital set a $100.00 target price on Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. Wall Street Zen downgraded Astera Labs from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Northland Securities downgraded Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 target price for the company. in a report on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Astera Labs has an average rating of "Moderate Buy" and an average price target of $129.13.

Insider Activity at Astera Labs

In related news, CEO Jitendra Mohan sold 152,517 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $170.33, for a total value of $25,978,220.61. Following the completion of the transaction, the chief executive officer owned 450,001 shares of the company's stock, valued at approximately $76,648,670.33. The trade was a 25.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 500,000 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the completion of the transaction, the chief financial officer directly owned 618,996 shares of the company's stock, valued at $55,852,009.08. The trade was a 44.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,329,686 shares of company stock valued at $273,512,376. 12.50% of the stock is owned by insiders.

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.