Janney Capital Management LLC Sells 2,476 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Janney Capital Management LLC lessened its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 33.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,921 shares of the company’s stock after selling 2,476 shares during the quarter. Janney Capital Management LLC’s holdings in Astera Labs were worth $652,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC raised its stake in Astera Labs by 0.7% during the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after buying an additional 153,491 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after purchasing an additional 2,628,765 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after purchasing an additional 47,569 shares in the last quarter. Maverick Capital Ltd. increased its holdings in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Astera Labs in the third quarter valued at approximately $52,049,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALAB. Barclays lifted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Morgan Stanley downgraded shares of Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 price target for the company. in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Northland Capmk downgraded Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, 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. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Astera Labs currently has an average rating of “Moderate Buy” and an average price target of $109.75.

Astera Labs Trading Down 1.2 %

ALAB stock opened at $122.95 on Thursday. The firm has a 50 day moving average price of $121.05 and a 200-day moving average price of $77.75. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. Research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Activity

In other Astera Labs news, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the transaction, the general counsel now owns 248,745 shares of the company’s stock, valued at approximately $22,588,533.45. This trade represents a 1.00 % 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 valued at $167,581,256 in the last ninety days.

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.