Tidal Investments LLC Acquires 20,388 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Tidal Investments LLC lifted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 81.8% during the third quarter, HoldingsChannel reports. The firm owned 45,298 shares of the company’s stock after purchasing an additional 20,388 shares during the quarter. Tidal Investments LLC’s holdings in Astera Labs were worth $2,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Astera Labs during the third quarter worth about $203,000. Geode Capital Management LLC grew its position in shares of Astera Labs by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 444,887 shares of the company’s stock valued at $23,312,000 after acquiring an additional 3,628 shares during the period. M&T Bank Corp purchased a new stake in shares of Astera Labs during the 3rd quarter worth approximately $322,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $3,425,000. Finally, Pier Capital LLC lifted its stake in Astera Labs by 187.2% in the third quarter. Pier Capital LLC now owns 82,916 shares of the company’s stock valued at $4,344,000 after purchasing an additional 54,048 shares during the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Price Performance

NASDAQ:ALAB opened at $132.14 on Monday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $132.68. The stock has a fifty day moving average of $88.64 and a 200 day moving average of $64.21.

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 analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. Equities analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the transaction, the chief financial officer now directly owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Manuel Alba sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the transaction, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. This represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,154,820 shares of company stock valued at $195,106,438 in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ALAB shares. Stifel Nicolaus upped their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Roth Mkm raised their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays boosted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $94.67.

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.