Quarry LP Makes New $109,000 Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Quarry LP purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,086 shares of the company’s stock, valued at approximately $109,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Holocene Advisors LP acquired a new stake in Astera Labs in the 3rd quarter worth about $3,358,000. Cinctive Capital Management LP acquired a new stake in Astera Labs in the 3rd quarter worth about $4,576,000. Atom Investors LP acquired a new stake in Astera Labs in the 3rd quarter worth about $1,436,000. Paloma Partners Management Co acquired a new stake in Astera Labs in the 3rd quarter worth about $639,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astera Labs in the 3rd quarter worth about $530,000.

Insiders Place Their Bets

In other Astera Labs news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the sale, the director now directly owns 506,863 shares in the company, valued at $25,343,150. The trade was a 11.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the sale, the insider now owns 775,000 shares in the company, valued at $74,857,250. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,154,820 shares of company stock worth $195,106,438 in the last three months.

Astera Labs Trading Up 5.0 %

Shares of NASDAQ:ALAB opened at $120.40 on Friday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $121.20. The business’s 50-day simple moving average is $81.38 and its 200 day simple moving average is $62.40.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ALAB shares. Morgan Stanley raised their price target on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Barclays lifted their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Craig Hallum lifted their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $94.67.

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.