Harbour Capital Advisors LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Harbour Capital Advisors LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,115 shares of the company’s stock, valued at approximately $439,000.

Several other institutional investors have also recently made changes to their positions in ALAB. ORG Wealth Partners LLC purchased a new position in Astera Labs in the fourth quarter valued at $42,000. Hollencrest Capital Management acquired a new stake in shares of Astera Labs during the 3rd quarter valued at about $26,000. GAMMA Investing LLC increased its stake in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares in the last quarter. US Bancorp DE purchased a new position in Astera Labs during the third quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. purchased a new position in Astera Labs during the third quarter worth approximately $49,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the transaction, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the sale, the chief executive officer now directly owns 628,895 shares in the company, valued at $65,109,499.35. This trade represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock worth $167,581,256 in the last ninety days.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Northland Securities lowered Astera Labs from an “outperform” rating to a “market perform” rating and increased their target price for the company from $100.00 to $120.00 in a research report on Thursday, January 2nd. Craig Hallum increased their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Roth Mkm boosted their target price 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. Morgan Stanley upped their price target on shares of Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Finally, Northland Capmk lowered Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Astera Labs presently has a consensus rating of “Moderate Buy” and an average target price of $105.75.

Astera Labs Trading Down 1.9 %

Shares of Astera Labs stock opened at $127.19 on Tuesday. The business’s 50 day moving average price is $116.88 and its 200 day moving average price is $74.77. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share 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 firm had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The company’s revenue was up 47.1% on a year-over-year basis. Analysts forecast that Astera Labs, Inc. will post -0.45 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.