Capital Research Global Investors Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Capital Research Global Investors bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 300,000 shares of the company’s stock, valued at approximately $22,257,000.

Other large investors have also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new position in Astera Labs in the first quarter worth about $402,000. Sei Investments Co. bought a new position in Astera Labs in the first quarter worth about $952,000. Forge First Asset Management Inc. bought a new position in Astera Labs in the first quarter worth about $1,143,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Astera Labs in the first quarter worth about $1,484,000. Finally, Value Aligned Research Advisors LLC acquired a new stake in shares of Astera Labs in the first quarter valued at approximately $1,886,000.

Analyst Upgrades and Downgrades

ALAB has been the topic of several analyst reports. Craig Hallum initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $90.00 price target on the stock. Roth Mkm initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $85.00 price target on the stock. Evercore ISI initiated coverage on shares of Astera Labs in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $100.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued an “overweight” rating and a $85.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of Astera Labs in a research note on Monday, April 15th. They issued an “overweight” rating and a $81.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and a consensus price target of $86.09.

Astera Labs Trading Up 0.2 %

NASDAQ ALAB opened at $47.14 on Friday. Astera Labs, Inc. has a 12 month low of $45.41 and a 12 month high of $95.21. The company’s 50 day moving average is $60.96.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($1.62). The company had revenue of $65.26 million for the quarter, compared to analyst estimates of $56.65 million. Sell-side analysts predict that Astera Labs, Inc. will post -0.56 EPS for the current fiscal year.

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.