21,778 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,778 shares of the company’s stock, valued at approximately $1,141,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in Astera Labs during the 1st quarter valued at approximately $127,268,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs during the first quarter worth approximately $44,514,000. Capital World Investors bought a new stake in shares of Astera Labs in the first quarter valued at approximately $44,514,000. Bamco Inc. NY acquired a new stake in shares of Astera Labs in the first quarter worth $37,095,000. Finally, TimesSquare Capital Management LLC increased its position in Astera Labs by 158,424.1% during the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock worth $16,859,000 after acquiring an additional 321,601 shares during the period.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of research reports. Roth Mkm increased their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays boosted their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI reduced their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $94.67.

Insider Buying and Selling

In other news, insider Sanjay Gajendra sold 740,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the sale, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. This represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This trade represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,408,458 shares of company stock worth $113,124,841 in the last three months.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $95.18 on Wednesday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $100.09. The business has a fifty day moving average of $66.06 and a two-hundred day moving average of $59.22.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, equities analysts forecast that Astera Labs, Inc. will post -0.45 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.