Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 17.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 207,903 shares of the company’s stock after selling 43,693 shares during the period. Allspring Global Investments Holdings LLC owned about 0.13% of Astera Labs worth $12,580,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. acquired a new stake in shares of Astera Labs during the 1st quarter worth approximately $127,268,000. Capital World Investors purchased a new position in Astera Labs in the first quarter valued at $44,514,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs in the first quarter worth about $44,514,000. Bamco Inc. NY acquired a new position in shares of Astera Labs in the first quarter worth about $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Astera Labs during the 1st quarter worth about $33,141,000.

Insiders Place Their Bets

In other news, General Counsel Philip Mazzara sold 8,000 shares of Astera Labs stock in a transaction on Monday, August 26th. The stock was sold at an average price of $43.12, for a total transaction of $344,960.00. Following the transaction, the general counsel now owns 325,474 shares in the company, valued at approximately $14,034,438.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ALAB shares. Stifel Nicolaus cut 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. Morgan Stanley reduced their target price on Astera Labs from $85.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. Barclays cut their price target 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. Deutsche Bank Aktiengesellschaft 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 report on Wednesday, August 7th. Finally, Roth Mkm cut their target price on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $71.36.

Astera Labs Trading Up 10.8 %

ALAB opened at $48.22 on Friday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21. The stock’s 50-day simple moving average is $49.40.

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