Trueblood Wealth Management LLC Makes New $331,000 Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Trueblood Wealth Management LLC acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,500 shares of the company’s stock, valued at approximately $331,000.

A number of other institutional investors have also recently made changes to their positions in ALAB. Tidal Investments LLC grew its position in Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after acquiring an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Astera Labs during the 3rd quarter valued at about $530,000. Avior Wealth Management LLC purchased a new stake in Astera Labs in the 3rd quarter worth about $361,000. Maverick Capital Ltd. lifted its stake in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Astera Labs by 173.1% during the third quarter. State Street Corp now owns 698,467 shares of the company’s stock valued at $36,593,000 after buying an additional 442,698 shares during the period. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALAB. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Craig Hallum lifted their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm boosted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Northland Securities downgraded shares of Astera Labs from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $100.00 to $120.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $109.75.

Insider Activity at Astera Labs

In other news, CEO Jitendra Mohan sold 171,064 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the transaction, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This represents a 21.38 % 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. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the sale, the director now directly 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 sold 1,690,452 shares of company stock valued at $167,581,256 in the last three months.

Astera Labs Trading Up 4.2 %

NASDAQ ALAB opened at $133.30 on Monday. The firm’s 50 day moving average price is $119.56 and its 200-day moving average price is $76.65. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its 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 business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, research analysts expect 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.