Amalgamated Bank Acquires Shares of 1,221 Astera Labs, Inc. (NASDAQ:ALAB)

Amalgamated Bank bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,221 shares of the company’s stock, valued at approximately $74,000.

Several other institutional investors and hedge funds have also modified their holdings of ALAB. Legato Capital Management LLC acquired a new stake in Astera Labs during the second quarter valued at $207,000. Alpine Global Management LLC bought a new stake in shares of Astera Labs in the 1st quarter valued at approximately $272,000. Strategic Blueprint LLC acquired a new stake in shares of Astera Labs in the second quarter worth about $332,000. Central Pacific Bank Trust Division acquired a new stake in Astera Labs in the 1st quarter worth approximately $402,000. Finally, Great Valley Advisor Group Inc. bought a new stake in Astera Labs during the second quarter worth approximately $443,000.

Astera Labs Stock Performance

ALAB opened at $50.68 on Wednesday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21. The stock has a 50-day moving average price of $43.94.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data 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 firm had revenue of $76.90 million for the quarter, compared to the consensus estimate of $72.41 million. Astera Labs’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts expect that Astera Labs, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ALAB shares. Craig Hallum reduced their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Evercore ISI decreased their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus lowered their price target on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Barclays dropped their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Needham & Company LLC decreased their price target on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $71.36.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now directly owns 855,000 shares in the company, valued at $38,748,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares in the company, valued at $38,748,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Manuel Alba sold 37,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the sale, the director now directly owns 498,863 shares in the company, valued at $25,102,786.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 276,791 shares of company stock worth $12,933,588.

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.