Capital Investment Advisory Services LLC Buys New Shares in Astera Labs, Inc. $ALAB

Capital Investment Advisory Services LLC purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the third quarter, HoldingsChannel reports. The institutional investor purchased 6,574 shares of the company’s stock, valued at approximately $1,287,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Astera Labs by 29.6% during the second quarter. Vanguard Group Inc. now owns 12,049,223 shares of the company’s stock worth $1,089,491,000 after purchasing an additional 2,751,747 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of Astera Labs by 151.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,543,500 shares of the company’s stock worth $139,563,000 after acquiring an additional 929,600 shares during the last quarter. Holocene Advisors LP bought a new stake in Astera Labs in the 2nd quarter valued at $55,827,000. State Street Corp lifted its holdings in Astera Labs by 39.3% during the 2nd quarter. State Street Corp now owns 2,143,459 shares of the company’s stock valued at $193,812,000 after purchasing an additional 604,363 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in Astera Labs during the third quarter worth $100,475,000. 60.47% of the stock is owned by institutional investors.

Astera Labs Stock Up 18.9%

ALAB stock opened at $169.85 on Friday. The company’s 50-day moving average price is $164.18 and its two-hundred day moving average price is $172.97. The firm has a market cap of $28.69 billion, a P/E ratio of 153.02, a P/E/G ratio of 1.95 and a beta of 1.50. Astera Labs, Inc. has a 12 month low of $47.13 and a 12 month high of $262.90.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.10. Astera Labs had a net margin of 27.50% and a return on equity of 13.48%. The business had revenue of $230.58 million for the quarter, compared to analyst estimates of $206.42 million. During the same quarter last year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 103.9% on a year-over-year basis. Equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Astera Labs news, CFO Michael Truett Tate sold 11,430 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $144.69, for a total transaction of $1,653,806.70. Following the completion of the transaction, the chief financial officer owned 192,297 shares of the company’s stock, valued at approximately $27,823,452.93. The trade was a 5.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Manuel Alba sold 150,000 shares of Astera Labs stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $166.18, for a total transaction of $24,927,000.00. Following the sale, the director directly owned 1,574,498 shares in the company, valued at $261,650,077.64. This trade represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 576,936 shares of company stock worth $87,409,540. 12.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALAB. Northland Securities upped their price target on shares of Astera Labs from $175.00 to $195.00 and gave the company an “outperform” rating in a research note on Tuesday, December 9th. TD Cowen reiterated a “hold” rating on shares of Astera Labs in a research note on Wednesday, November 5th. Wall Street Zen downgraded Astera Labs from a “buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Stifel Nicolaus lifted their target price on Astera Labs from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Astera Labs in a research note on Wednesday, January 21st. Fifteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Astera Labs currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.63.

Astera Labs Company Profile

Astera Labs is a fabless semiconductor company that develops connectivity solutions for data center and cloud infrastructure. The firm focuses on addressing signal integrity and link management challenges that arise as server architectures incorporate higher-bandwidth processors and accelerators. Its technology is aimed at improving reliability and performance for high-speed interconnects used in servers, storage systems and compute accelerators.

The company’s product portfolio centers on silicon devices and accompanying firmware and software that enhance and manage high-speed links.