Janney Capital Management LLC Invests $388,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Janney Capital Management LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,397 shares of the company’s stock, valued at approximately $388,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE purchased a new stake in shares of Astera Labs in the 3rd quarter worth $46,000. Allworth Financial LP boosted its holdings in Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares during the period. Amalgamated Bank bought a new position in Astera Labs in the 2nd quarter worth $74,000. Newbridge Financial Services Group Inc. boosted its holdings in Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after buying an additional 2,980 shares during the period. Finally, Legato Capital Management LLC bought a new position in Astera Labs in the 2nd quarter worth $207,000.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $72.65 on Monday. The firm’s 50-day moving average price is $54.35 and its 200-day moving average price is $57.90. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $95.21.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts anticipate that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the sale, the general counsel now directly owns 333,474 shares of the company’s stock, valued at $13,482,353.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Jack R. Lazar sold 3,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the sale, the director now directly owns 137,000 shares of the company’s stock, valued at $8,451,530. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 564,458 shares of company stock worth $31,970,841.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALAB shares. Evercore ISI dropped their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Roth Mkm dropped their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Craig Hallum dropped their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $73.09.

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.