Calamos Advisors LLC Makes New $1.69 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Calamos Advisors LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 12,785 shares of the company’s stock, valued at approximately $1,693,000.

A number of other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in Astera Labs in the second quarter valued at approximately $341,000. Truist Financial Corp purchased a new stake in Astera Labs in the 2nd quarter valued at $353,000. SG Americas Securities LLC acquired a new stake in Astera Labs during the 3rd quarter worth $594,000. Renaissance Capital LLC grew its position in Astera Labs by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 23,760 shares of the company’s stock worth $1,245,000 after purchasing an additional 3,967 shares during the last quarter. Finally, Seven Grand Managers LLC increased its stake in Astera Labs by 25.0% in the third quarter. Seven Grand Managers LLC now owns 125,000 shares of the company’s stock valued at $6,549,000 after purchasing an additional 25,000 shares during the period. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Trading Up 3.7 %

ALAB opened at $101.73 on Wednesday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The business’s fifty day moving average is $122.27 and its two-hundred day moving average is $80.67.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. Analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALAB. Barclays increased their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Citigroup started coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 target price on the stock. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Tuesday, January 28th. Stifel Nicolaus increased their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upped 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. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $107.42.

Insiders Place Their Bets

In other news, CFO Michael Truett Tate sold 16,000 shares of Astera Labs 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 sale, the chief financial officer now directly owns 1,412,888 shares in the company, valued at $166,494,721.92. The trade was 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, Director Stefan A. Dyckerhoff sold 197,297 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the completion of the transaction, the director now directly owns 6,148 shares of the company’s stock, valued at approximately $556,455.48. This represents a 96.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,640,452 shares of company stock worth $163,096,256.

Astera Labs 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.