Alpine Global Management LLC Purchases New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Alpine Global Management LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,668 shares of the company’s stock, valued at approximately $272,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Capital World Investors bought a new stake in Astera Labs during the 1st quarter worth approximately $44,514,000. Capital Research Global Investors bought a new stake in Astera Labs during the 1st quarter worth approximately $22,257,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Astera Labs during the 1st quarter worth approximately $1,484,000. Vanguard Group Inc. bought a new stake in Astera Labs during the 1st quarter worth approximately $127,268,000. Finally, Forge First Asset Management Inc. bought a new stake in shares of Astera Labs in the 1st quarter valued at $1,143,000.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALAB. Roth Mkm began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective on the stock. Evercore ISI began coverage on shares of Astera Labs in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $100.00 price objective on the stock. Craig Hallum began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, Morgan Stanley began coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued an “overweight” rating and a $81.00 price objective on the stock. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $86.09.

Astera Labs Price Performance

Astera Labs stock traded up $0.09 during mid-day trading on Friday, hitting $47.14. 1,825,349 shares of the company traded hands, compared to its average volume of 1,360,609. Astera Labs, Inc. has a one year low of $45.41 and a one year high of $95.21. The business’s fifty day moving average price is $60.96.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, May 7th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($1.62). The business had revenue of $65.26 million for the quarter, compared to analyst estimates of $56.65 million. As a group, research analysts anticipate that Astera Labs, Inc. will post -0.56 earnings per share 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.