The Manufacturers Life Insurance Company Invests $341,000 in Astera Labs, Inc. (NASDAQ:ALAB)

The Manufacturers Life Insurance Company acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,643 shares of the company’s stock, valued at approximately $341,000.

Other large investors also recently bought and sold shares of the company. Amalgamated Bank bought a new stake in Astera Labs during the 2nd quarter valued at $74,000. Massachusetts Financial Services Co. MA boosted its position in Astera Labs by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock valued at $5,531,000 after purchasing an additional 2,343 shares in the last quarter. Legato Capital Management LLC purchased a new position in Astera Labs in the second quarter valued at about $207,000. Alpine Global Management LLC bought a new position in Astera Labs in the first quarter worth about $272,000. Finally, Strategic Blueprint LLC purchased a new stake in shares of Astera Labs during the second quarter valued at about $332,000.

Astera Labs Stock Performance

Astera Labs stock opened at $65.99 on Friday. The business has a 50 day simple moving average of $47.75 and a 200-day simple moving average of $58.16. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $95.21.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $72.41 million. Astera Labs’s revenue was up 17.8% on a year-over-year basis. As a group, research analysts anticipate that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the sale, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Astera Labs news, insider Sanjay Gajendra sold 110,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the transaction, the insider now owns 835,000 shares in the company, valued at approximately $58,007,450. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the sale, the director now directly owns 135,000 shares of the company’s stock, valued at $9,443,250. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 564,458 shares of company stock worth $31,970,841 in the last 90 days.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus decreased their price target on Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped their target price 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. Roth Mkm reduced their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley boosted their price target on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Barclays reduced their price objective on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and an average target price of $73.09.

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.