JT Stratford LLC Acquires Shares of 15,743 Astera Labs, Inc. $ALAB

JT Stratford LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,743 shares of the company’s stock, valued at approximately $1,423,000.

Several other institutional investors have also recently made changes to their positions in the business. Fred Alger Management LLC boosted its stake in shares of Astera Labs by 13.0% in the first quarter. Fred Alger Management LLC now owns 1,560,033 shares of the company’s stock worth $93,087,000 after buying an additional 179,638 shares during the last quarter. Hoey Investments Inc. raised its position in Astera Labs by 22.4% during the second quarter. Hoey Investments Inc. now owns 6,121 shares of the company’s stock valued at $553,000 after acquiring an additional 1,121 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Astera Labs by 21.6% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,781 shares of the company’s stock valued at $1,336,000 after acquiring an additional 2,624 shares during the period. Wealth Effects LLC purchased a new stake in Astera Labs in the 2nd quarter worth approximately $242,000. Finally, Maryland State Retirement & Pension System boosted its position in Astera Labs by 37.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 6,960 shares of the company’s stock worth $629,000 after purchasing an additional 1,906 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Buying and Selling at Astera Labs

In related news, CFO Michael Truett Tate sold 11,430 shares of Astera Labs stock in a transaction that occurred on 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 transaction, the chief financial officer owned 192,297 shares in the company, valued at approximately $27,823,452.93. This trade represents a 5.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Sanjay Gajendra sold 90,459 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $144.69, for a total value of $13,088,512.71. Following the transaction, the chief operating officer directly owned 1,599,750 shares in the company, valued at $231,467,827.50. This trade represents a 5.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 403,936 shares of company stock valued at $58,920,200. Company insiders own 12.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ALAB shares. Morgan Stanley reaffirmed an “overweight” rating and set a $210.00 target price on shares of Astera Labs in a report on Wednesday. BNP Paribas started coverage on shares of Astera Labs in a report on Thursday, November 20th. They issued an “outperform” rating for the company. Citigroup upped their price objective on shares of Astera Labs from $160.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Bank of America assumed coverage on shares of Astera Labs in a research note on Friday, October 3rd. They set a “neutral” rating and a $230.00 target price on the stock. Finally, Roth Capital raised their target price on Astera Labs from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $187.06.

Astera Labs Trading Down 13.5%

ALAB opened at $142.94 on Wednesday. Astera Labs, Inc. has a twelve month low of $47.13 and a twelve month high of $262.90. The firm has a market capitalization of $24.14 billion, a PE ratio of 128.77, a PEG ratio of 3.08 and a beta of 1.51. The firm’s 50-day moving average price is $172.77 and its 200 day moving average price is $150.19.

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.