Jupiter Asset Management Ltd. Acquires Shares of 8,826 Astera Labs, Inc. (NASDAQ:ALAB)

Jupiter Asset Management Ltd. acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 8,826 shares of the company's stock, valued at approximately $527,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blueshift Asset Management LLC bought a new position in shares of Astera Labs during the first quarter valued at $724,000. Jefferies Financial Group Inc. bought a new position in shares of Astera Labs during the first quarter valued at $1,392,000. Harbour Investments Inc. lifted its holdings in shares of Astera Labs by 351.7% during the first quarter. Harbour Investments Inc. now owns 795 shares of the company's stock valued at $47,000 after acquiring an additional 619 shares during the period. XTX Topco Ltd lifted its holdings in shares of Astera Labs by 1,326.7% during the first quarter. XTX Topco Ltd now owns 37,307 shares of the company's stock valued at $2,226,000 after acquiring an additional 34,692 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of Astera Labs during the first quarter valued at $161,000. 60.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALAB has been the subject of a number of analyst reports. Wall Street Zen cut Astera Labs from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. 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 note on Wednesday, May 21st. Needham & Company LLC lowered their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Northland Securities lowered Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 target price for the company. in a research note on Tuesday, July 22nd. Finally, Citigroup lowered their target price on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $106.73.

Insider Transactions at Astera Labs

In other news, CEO Jitendra Mohan sold 128,250 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $90.02, for a total transaction of $11,545,065.00. Following the completion of the transaction, the chief executive officer directly owned 541,125 shares in the company, valued at approximately $48,712,072.50. The trade was a 19.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $90.23, for a total value of $45,115,000.00. Following the transaction, the chief financial officer owned 618,996 shares of the company's stock, valued at $55,852,009.08. The trade was a 44.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,181,759 shares of company stock worth $200,883,431.

Astera Labs Stock Up 5.2%

Shares of ALAB stock opened at $137.93 on Tuesday. The stock has a 50-day moving average price of $100.36 and a 200 day moving average price of $85.78. The firm has a market cap of $22.75 billion, a price-to-earnings ratio of 626.98, a PEG ratio of 6.15 and a beta of 1.39. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

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

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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