Massachusetts Financial Services Co. MA Increases Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Massachusetts Financial Services Co. MA boosted its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 253.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 322,993 shares of the company’s stock after purchasing an additional 231,585 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.20% of Astera Labs worth $16,922,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Horizon Advisors Inc. acquired a new position in shares of Astera Labs in the 3rd quarter valued at $49,000. Avior Wealth Management LLC acquired a new position in Astera Labs in the third quarter valued at $361,000. Meeder Asset Management Inc. purchased a new stake in Astera Labs during the third quarter valued at about $1,141,000. LMR Partners LLP increased its stake in Astera Labs by 175.0% during the third quarter. LMR Partners LLP now owns 275,000 shares of the company’s stock worth $14,407,000 after acquiring an additional 175,000 shares during the last quarter. Finally, CIBC Asset Management Inc purchased a new position in shares of Astera Labs in the 3rd quarter worth about $237,000.

Astera Labs Stock Performance

ALAB stock opened at $107.31 on Tuesday. The stock’s 50 day moving average is $70.87 and its two-hundred day moving average is $60.05. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $113.85.

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

Insider Activity

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of Astera Labs stock in a transaction on 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 completion of the transaction, the director now owns 6,148 shares of the company’s stock, valued at $556,455.48. The trade was a 96.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael Truett Tate sold 50,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total transaction of $2,399,000.00. Following the sale, the chief financial officer now directly owns 829,108 shares in the company, valued at $39,780,601.84. This trade represents a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,736,640 shares of company stock worth $147,545,808.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley increased their price target on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs has a consensus rating of “Buy” and a consensus price target of $94.67.

Astera Labs 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.