Fmr LLC Has $1.23 Billion Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Fmr LLC boosted its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,504,038 shares of the company’s stock after purchasing an additional 153,491 shares during the quarter. Fmr LLC owned about 14.82% of Astera Labs worth $1,231,377,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Strategic Blueprint LLC grew its holdings in Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after purchasing an additional 195 shares during the period. Hollencrest Capital Management bought a new position in shares of Astera Labs in the third quarter valued at $26,000. Venturi Wealth Management LLC lifted its stake in shares of Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after buying an additional 500 shares in the last quarter. US Bancorp DE bought a new position in shares of Astera Labs in the third quarter valued at $46,000. Finally, Allworth Financial LP lifted its stake in shares of Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares in the last quarter.

Insider Transactions at Astera Labs

In related news, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the sale, the director now directly owns 135,000 shares in the company, valued at $9,443,250. This represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the sale, the insider now owns 775,000 shares of the company’s stock, valued at $74,857,250. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,774,454 shares of company stock worth $151,560,234.

Astera Labs Stock Down 1.7 %

Shares of NASDAQ:ALAB opened at $105.48 on Wednesday. The company has a 50 day moving average of $72.05 and a 200 day moving average of $60.30. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $113.85.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $97.50 million. The company’s quarterly revenue was up 47.1% on a year-over-year basis. On average, research analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Craig Hallum raised their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target 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. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $94.67.

Astera Labs Company Profile

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.