Allen Operations LLC Sells 6,122 Shares of Astera Labs, Inc. $ALAB

Allen Operations LLC trimmed its position in Astera Labs, Inc. (NASDAQ:ALAB) by 50.0% in the third quarter, Holdings Channel.com reports. The firm owned 6,122 shares of the company’s stock after selling 6,122 shares during the period. Astera Labs comprises approximately 0.1% of Allen Operations LLC’s portfolio, making the stock its 29th largest holding. Allen Operations LLC’s holdings in Astera Labs were worth $1,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Astera Labs by 29.6% in the 2nd quarter. Vanguard Group Inc. now owns 12,049,223 shares of the company’s stock valued at $1,089,491,000 after purchasing an additional 2,751,747 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Astera Labs by 151.4% during the second quarter. 1832 Asset Management L.P. now owns 1,543,500 shares of the company’s stock worth $139,563,000 after buying an additional 929,600 shares during the last quarter. Holocene Advisors LP acquired a new position in Astera Labs in the second quarter valued at approximately $55,827,000. State Street Corp boosted its stake in Astera Labs by 39.3% in the second quarter. State Street Corp now owns 2,143,459 shares of the company’s stock valued at $193,812,000 after acquiring an additional 604,363 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in Astera Labs in the third quarter valued at approximately $100,475,000. 60.47% of the stock is owned by institutional investors.

Astera Labs Trading Up 10.5%

Shares of Astera Labs stock opened at $187.67 on Tuesday. The stock’s fifty day simple moving average is $164.63 and its 200 day simple moving average is $174.20. The company has a market capitalization of $31.70 billion, a PE ratio of 169.07, a PEG ratio of 2.32 and a beta of 1.51. Astera Labs, Inc. has a 12 month low of $47.13 and a 12 month high of $262.90.

Insider Buying and Selling at Astera Labs

In other news, Director Manuel Alba sold 150,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 1,574,498 shares of the company’s stock, valued at $261,650,077.64. This trade represents a 8.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jitendra Mohan sold 90,459 shares of Astera Labs stock in a transaction that occurred on 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 sale, the chief executive officer owned 2,080,418 shares in the company, valued at $301,015,680.42. This trade represents a 4.17% decrease in their ownership of the stock. 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 90 days. 12.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Astera Labs in a research report on Wednesday, December 3rd. Citigroup reaffirmed an “outperform” rating on shares of Astera Labs in a research note on Tuesday, December 9th. BNP Paribas Exane started coverage on Astera Labs in a report on Thursday, November 20th. They issued an “outperform” rating for the company. Morgan Stanley restated an “overweight” rating and set a $210.00 target price on shares of Astera Labs in a report on Wednesday, December 3rd. Finally, Barclays set a $165.00 target price on Astera Labs in a research report on Thursday, January 15th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Astera Labs currently has an average rating of “Moderate Buy” and a consensus price target of $190.63.

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.