Strategic Blueprint LLC Buys New Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Strategic Blueprint LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 5,489 shares of the company’s stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALAB. Legato Capital Management LLC acquired a new stake in Astera Labs during the 2nd quarter worth $207,000. Alpine Global Management LLC purchased a new stake in Astera Labs in the 1st quarter valued at approximately $272,000. Central Pacific Bank Trust Division acquired a new position in Astera Labs during the 1st quarter worth approximately $402,000. Great Valley Advisor Group Inc. purchased a new position in Astera Labs in the second quarter worth $443,000. Finally, Sei Investments Co. acquired a new position in shares of Astera Labs during the 1st quarter worth $952,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Craig Hallum dropped their target price on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Roth Mkm decreased their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Morgan Stanley lowered their price target on shares of Astera Labs from $85.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Finally, Evercore ISI lowered their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.36.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 8,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $43.12, for a total value of $344,960.00. Following the completion of the sale, the general counsel now owns 325,474 shares of the company’s stock, valued at $14,034,438.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Astera Labs Stock Up 8.7 %

NASDAQ ALAB traded up $3.78 during mid-day trading on Thursday, reaching $47.30. 1,696,240 shares of the company’s stock traded hands, compared to its average volume of 2,305,218. The firm’s fifty day simple moving average is $49.88. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. The business’s quarterly revenue was up 17.8% on a year-over-year basis. On average, analysts anticipate that Astera Labs, Inc. will post -0.56 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.