Allen Operations LLC Sells 6,122 Shares of Astera Labs, Inc. $ALAB

Allen Operations LLC trimmed its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 50.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,122 shares of the company’s stock after selling 6,122 shares during the period. Astera Labs makes up about 0.1% of Allen Operations LLC’s investment portfolio, making the stock its 29th biggest position. Allen Operations LLC’s holdings in Astera Labs were worth $1,199,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Royal Bank of Canada raised its position in Astera Labs by 167.3% in the first quarter. Royal Bank of Canada now owns 152,453 shares of the company’s stock worth $9,097,000 after purchasing an additional 95,409 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Astera Labs by 213.4% in the 1st quarter. AQR Capital Management LLC now owns 11,391 shares of the company’s stock valued at $680,000 after purchasing an additional 7,756 shares during the period. Empowered Funds LLC grew its stake in shares of Astera Labs by 917.3% in the 1st quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock valued at $277,000 after purchasing an additional 4,183 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Astera Labs in the 2nd quarter worth approximately $559,000. Finally, Maryland State Retirement & Pension System lifted its position in shares of Astera Labs by 37.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 6,960 shares of the company’s stock worth $629,000 after buying an additional 1,906 shares during the period. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALAB has been the topic of several recent analyst reports. Royal Bank Of Canada began coverage on Astera Labs in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $225.00 price target on the stock. Raymond James Financial assumed coverage on shares of Astera Labs in a research note on Friday, November 21st. They issued a “hold” rating on the stock. BNP Paribas Exane began coverage on shares of Astera Labs in a research report on Thursday, November 20th. They set an “outperform” rating for the company. Stifel Nicolaus lifted their price target on shares of Astera Labs from $185.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Needham & Company LLC boosted their price target on shares of Astera Labs from $205.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.63.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 4,620 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $144.69, for a total transaction of $668,467.80. Following the transaction, the general counsel directly owned 147,040 shares in the company, valued at approximately $21,275,217.60. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Manuel Alba sold 150,000 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $166.18, for a total transaction of $24,927,000.00. Following the sale, the director directly owned 1,574,498 shares in the company, valued at $261,650,077.64. This trade represents a 8.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 576,936 shares of company stock valued at $87,409,540. Insiders own 12.50% of the company’s stock.

Astera Labs Stock Up 10.5%

Shares of NASDAQ ALAB opened at $187.67 on Tuesday. Astera Labs, Inc. has a 12-month low of $47.13 and a 12-month high of $262.90. The firm’s 50-day simple moving average is $164.63 and its 200 day simple moving average is $174.20. The company has a market cap of $31.70 billion, a price-to-earnings ratio of 169.07, a price-to-earnings-growth ratio of 2.32 and a beta of 1.51.

Astera Labs Profile

Astera Labs is a fabless semiconductor company that develops connectivity solutions for data center and cloud infrastructure. The firm focuses on addressing signal integrity and link management challenges that arise as server architectures incorporate higher-bandwidth processors and accelerators. Its technology is aimed at improving reliability and performance for high-speed interconnects used in servers, storage systems and compute accelerators.

The company’s product portfolio centers on silicon devices and accompanying firmware and software that enhance and manage high-speed links.