Charles Schwab Investment Management Inc. Sells 5,030 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Charles Schwab Investment Management Inc. lowered its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,464 shares of the company’s stock after selling 5,030 shares during the period. Charles Schwab Investment Management Inc. owned about 0.07% of Astera Labs worth $6,154,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALAB. Strategic Blueprint LLC lifted its position in Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after buying an additional 195 shares during the period. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the third quarter worth $26,000. Venturi Wealth Management LLC lifted its holdings in shares of Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after purchasing an additional 500 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Astera Labs during the third quarter valued at $46,000. Finally, Allworth Financial LP increased its holdings in Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares in the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Astera Labs

In related news, Director Manuel Alba sold 11,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the sale, the director now directly owns 456,863 shares of the company’s stock, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Truett Tate sold 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the sale, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,154,820 shares of company stock worth $195,106,438.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Morgan Stanley raised their target price on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Roth Mkm upped their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus upped their price objective on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $94.67.

Astera Labs Price Performance

NASDAQ:ALAB opened at $122.62 on Thursday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $127.25. The business’s fifty day moving average price is $84.12 and its 200 day moving average price is $63.02.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm’s revenue was up 47.1% compared to the same quarter last year. As a group, equities research analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

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.