Meeder Asset Management Inc. Buys Shares of 21,778 Astera Labs, Inc. (NASDAQ:ALAB)

Meeder Asset Management Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 21,778 shares of the company’s stock, valued at approximately $1,141,000.

A number of other institutional investors and hedge funds have also modified their holdings of ALAB. Hollencrest Capital Management acquired a new position in Astera Labs in the third quarter valued at about $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $46,000. Allworth Financial LP raised its position in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares during the period. Amalgamated Bank acquired a new position in Astera Labs during the second quarter valued at approximately $74,000. Finally, Venturi Wealth Management LLC grew its holdings in Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after purchasing an additional 500 shares during the period.

Astera Labs Trading Up 5.3 %

NASDAQ ALAB opened at $95.18 on Wednesday. The firm’s 50 day moving average is $66.06 and its 200-day moving average is $59.22. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $100.09.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ALAB shares. Citigroup started coverage on shares of Astera Labs in a research report on Monday. They set a “buy” rating and a $120.00 price target on the stock. Craig Hallum boosted their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Barclays boosted their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and a consensus price target of $94.67.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction that occurred on 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 sale, the general counsel now owns 333,474 shares in the company, valued at $13,482,353.82. This represents a 11.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sanjay Gajendra sold 76,701 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now directly owns 855,000 shares of the company’s stock, valued at $38,748,600. This represents a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,408,458 shares of company stock valued at $113,124,841.

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.