Lecap Asset Management Ltd. Buys New Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Lecap Asset Management Ltd. purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 32,925 shares of the company’s stock, valued at approximately $1,725,000.

Several other large investors also recently added to or reduced their stakes in the stock. Amalgamated Bank bought a new stake in Astera Labs in the second quarter worth $74,000. Newbridge Financial Services Group Inc. increased its stake in Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after purchasing an additional 2,980 shares during the period. Legato Capital Management LLC bought a new stake in shares of Astera Labs during the second quarter worth $207,000. Alpine Global Management LLC purchased a new stake in shares of Astera Labs during the first quarter valued at $272,000. Finally, Strategic Blueprint LLC bought a new position in shares of Astera Labs in the second quarter worth about $332,000.

Wall Street Analyst Weigh In

ALAB has been the subject of several research reports. Roth Mkm lowered their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Craig Hallum cut their target price on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI lowered their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, Morgan Stanley lifted their target price on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs has an average rating of “Buy” and a consensus price target of $73.09.

Insider Buying and Selling at Astera Labs

In other news, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the transaction, the insider now directly owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares in the company, valued at approximately $51,178,789.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares in the company, valued at $38,748,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 564,458 shares of company stock worth $31,970,841.

Astera Labs Stock Up 1.7 %

Shares of Astera Labs stock opened at $68.29 on Wednesday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $95.21. The company has a 50 day moving average price of $49.38 and a 200 day moving average price of $57.92.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities analysts predict that Astera Labs, Inc. will post -0.54 EPS for the current year.

Astera Labs Company 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.