Truist Financial Corp Purchases 25,585 Shares of Astera Labs, Inc. $ALAB

Truist Financial Corp grew its position in Astera Labs, Inc. (NASDAQ:ALAB) by 270.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,062 shares of the company’s stock after buying an additional 25,585 shares during the period. Truist Financial Corp’s holdings in Astera Labs were worth $6,865,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new position in Astera Labs in the second quarter valued at about $36,000. Clearstead Trust LLC grew its position in shares of Astera Labs by 46,100.0% in the 2nd quarter. Clearstead Trust LLC now owns 462 shares of the company’s stock valued at $42,000 after purchasing an additional 461 shares during the period. Advisors Asset Management Inc. increased its stake in Astera Labs by 68.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 477 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares in the last quarter. Manchester Capital Management LLC raised its holdings in Astera Labs by 141.5% during the 2nd quarter. Manchester Capital Management LLC now owns 483 shares of the company’s stock worth $44,000 after buying an additional 283 shares during the period. Finally, Whittier Trust Co. bought a new position in Astera Labs in the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insiders Place Their Bets

In related news, Director Manuel Alba sold 150,000 shares of the business’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $166.18, for a total transaction of $24,927,000.00. Following the transaction, the director directly owned 1,574,498 shares in the company, valued at approximately $261,650,077.64. The trade was a 8.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 90,459 shares of Astera Labs stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.69, for a total transaction of $13,088,512.71. Following the completion of the transaction, the chief executive officer directly owned 2,080,418 shares of the company’s stock, valued at approximately $301,015,680.42. This trade represents a 4.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 576,936 shares of company stock valued at $87,409,540 in the last ninety days. 12.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ALAB shares. Citigroup reissued an “outperform” rating on shares of Astera Labs in a research report on Tuesday, December 9th. Northland Securities increased their target price on Astera Labs from $175.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Wall Street Zen lowered Astera Labs from a “buy” rating to a “hold” rating in a report on Tuesday, November 11th. Raymond James Financial started coverage on Astera Labs in a report on Friday, November 21st. They set a “hold” rating for the company. Finally, Royal Bank Of Canada began coverage on Astera Labs in a research report on Wednesday, January 14th. They issued an “outperform” rating and a $225.00 target price on the stock. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $190.63.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $152.44 on Tuesday. Astera Labs, Inc. has a 52-week low of $47.13 and a 52-week high of $262.90. The company has a market cap of $25.75 billion, a P/E ratio of 137.33, a P/E/G ratio of 2.05 and a beta of 1.51. The stock’s 50-day simple moving average is $164.08 and its 200 day simple moving average is $172.65.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.10. The firm had revenue of $230.58 million during the quarter, compared to the consensus estimate of $206.42 million. Astera Labs had a return on equity of 13.48% and a net margin of 27.50%.The business’s revenue was up 103.9% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. As a group, equities analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Astera Labs Profile

Astera Labs is a fabless semiconductor company that develops connectivity solutions for data center and cloud infrastructure. The firm focuses on addressing signal integrity and link management challenges that arise as server architectures incorporate higher-bandwidth processors and accelerators. Its technology is aimed at improving reliability and performance for high-speed interconnects used in servers, storage systems and compute accelerators.

The company’s product portfolio centers on silicon devices and accompanying firmware and software that enhance and manage high-speed links.