Crestwood Capital Management L.P. Raises Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Crestwood Capital Management L.P. grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 4.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,920 shares of the company’s stock after buying an additional 920 shares during the period. Astera Labs makes up 0.8% of Crestwood Capital Management L.P.’s portfolio, making the stock its 15th largest holding. Crestwood Capital Management L.P.’s holdings in Astera Labs were worth $1,096,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALAB. Sei Investments Co. purchased a new position in shares of Astera Labs in the 1st quarter worth $952,000. Vanguard Group Inc. purchased a new position in shares of Astera Labs during the 1st quarter worth about $127,268,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Astera Labs during the 1st quarter worth about $44,514,000. Janus Henderson Group PLC purchased a new position in shares of Astera Labs during the 1st quarter worth about $20,025,000. Finally, Rokos Capital Management LLP purchased a new position in shares of Astera Labs during the 1st quarter worth about $1,484,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALAB. Roth Mkm lifted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI dropped their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Craig Hallum lifted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs has an average rating of “Buy” and an average price target of $94.67.

Astera Labs Price Performance

Astera Labs stock opened at $107.31 on Tuesday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $113.85. The firm has a 50-day moving average of $70.87 and a two-hundred day moving average of $60.05.

Astera Labs (NASDAQ:ALAB) last posted its quarterly 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 net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company’s quarterly revenue was up 47.1% on a year-over-year basis. Equities analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now owns 129,617 shares in the company, valued at $11,626,644.90. The trade was a 27.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. This trade represents a 8.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,736,640 shares of company stock worth $147,545,808.

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.