Venturi Wealth Management LLC Boosts Position in Astera Labs, Inc. (NASDAQ:ALAB)

Venturi Wealth Management LLC increased its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 26.3% in the third quarter, HoldingsChannel.com reports. The fund owned 2,400 shares of the company’s stock after acquiring an additional 500 shares during the period. Venturi Wealth Management LLC’s holdings in Astera Labs were worth $126,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ALAB. Sei Investments Co. bought a new position in Astera Labs in the 1st quarter worth $952,000. Lord Abbett & CO. LLC purchased a new position in shares of Astera Labs during the first quarter valued at about $33,141,000. Forge First Asset Management Inc. bought a new position in Astera Labs in the first quarter worth about $1,143,000. Vanguard Group Inc. purchased a new stake in Astera Labs in the first quarter worth about $127,268,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Astera Labs during the 1st quarter valued at approximately $1,484,000.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $89.30 on Thursday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $100.09. The firm has a 50-day simple moving average of $61.06 and a two-hundred day simple moving average of $58.88.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $97.50 million. The business’s revenue was up 47.1% on a year-over-year basis. On average, research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, General Counsel Philip Mazzara sold 42,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.56, for a total transaction of $4,055,520.00. Following the sale, the general counsel now owns 258,564 shares of the company’s stock, valued at $24,966,939.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sanjay Gajendra sold 740,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,408,458 shares of company stock valued at $113,124,841.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ALAB shares. Barclays increased their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley raised their price objective on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus upped their target price on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $92.36.

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.