Highland Capital Management LLC Invests $1.59 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Highland Capital Management LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 30,422 shares of the company’s stock, valued at approximately $1,594,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ALAB. Mount Yale Investment Advisors LLC bought a new position in shares of Astera Labs during the third quarter valued at $594,000. Dakota Wealth Management acquired a new stake in shares of Astera Labs during the 3rd quarter worth about $2,204,000. International Assets Investment Management LLC acquired a new stake in shares of Astera Labs during the 3rd quarter worth about $34,310,000. Lecap Asset Management Ltd. bought a new position in Astera Labs during the 3rd quarter valued at about $1,725,000. Finally, Seven Grand Managers LLC boosted its position in Astera Labs by 25.0% in the third quarter. Seven Grand Managers LLC now owns 125,000 shares of the company’s stock valued at $6,549,000 after buying an additional 25,000 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ALAB shares. Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus reduced their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Roth Mkm decreased their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays cut their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Craig Hallum decreased their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average target price of $73.09.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the sale, the chief executive officer now directly owns 728,420 shares in the company, valued at approximately $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the transaction, the director now owns 135,000 shares in the company, valued at $9,443,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the transaction, the chief executive officer now owns 728,420 shares in the company, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 564,458 shares of company stock worth $31,970,841.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $72.67 on Friday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $95.21. The company’s 50 day simple moving average is $51.13 and its 200 day simple moving average is $58.02.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. Astera Labs’s quarterly revenue was up 17.8% on a year-over-year basis. On average, research analysts anticipate that Astera Labs, Inc. will post -0.54 EPS for the current 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.