The Manufacturers Life Insurance Company Grows Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

The Manufacturers Life Insurance Company grew its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 15,477.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 879,055 shares of the company’s stock after buying an additional 873,412 shares during the quarter. The Manufacturers Life Insurance Company owned 0.55% of Astera Labs worth $46,054,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in Astera Labs during the third quarter worth approximately $26,000. US Bancorp DE purchased a new stake in Astera Labs during the third quarter worth approximately $46,000. First Horizon Advisors Inc. purchased a new stake in Astera Labs during the third quarter worth approximately $49,000. Allworth Financial LP grew its stake in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares during the period. Finally, Amalgamated Bank purchased a new stake in Astera Labs during the second quarter worth approximately $74,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALAB. Barclays upped their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Craig Hallum upped their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI decreased their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus upped their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley upped their target price on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $94.67.

Astera Labs Stock Down 5.6 %

ALAB opened at $99.60 on Friday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $113.85. The firm’s fifty day moving average price is $74.17 and its 200 day moving average price is $60.84.

Astera Labs (NASDAQ:ALAB) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, research analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insiders Place Their Bets

In related news, Director Stefan A. Dyckerhoff sold 197,297 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.51, for a total value of $17,857,351.47. Following the sale, the director now owns 6,148 shares of the company’s stock, valued at $556,455.48. This trade represents a 96.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. This trade represents a 8.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,897,820 shares of company stock valued at $168,252,298.

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.