Stock Traders Purchase Large Volume of Call Options on Astera Labs (NASDAQ:ALAB)

Astera Labs, Inc. (NASDAQ:ALAB) was the target of some unusual options trading on Tuesday. Traders acquired 39,591 call options on the company. This is an increase of approximately 33% compared to the average daily volume of 29,801 call options.

Insider Activity

In other news, General Counsel Philip Mazzara sold 4,620 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.69, for a total value of $668,467.80. Following the sale, the general counsel directly owned 147,040 shares of the company’s stock, valued at approximately $21,275,217.60. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 11,430 shares of the firm’s 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 $1,653,806.70. Following the completion of the transaction, the chief financial officer owned 192,297 shares of the company’s stock, valued at $27,823,452.93. This trade represents a 5.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 586,936 shares of company stock valued at $89,331,140. 12.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Astera Labs by 14.1% in the 3rd quarter. Vanguard Group Inc. now owns 13,743,141 shares of the company’s stock worth $2,690,907,000 after purchasing an additional 1,693,918 shares during the period. Alliancebernstein L.P. grew its stake in shares of Astera Labs by 114.2% during the first quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock valued at $501,289,000 after buying an additional 4,478,741 shares during the last quarter. Atreides Management LP increased its holdings in shares of Astera Labs by 153.3% in the first quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock worth $277,601,000 after buying an additional 2,815,614 shares during the period. State Street Corp lifted its stake in shares of Astera Labs by 9.1% in the 3rd quarter. State Street Corp now owns 2,339,451 shares of the company’s stock valued at $458,065,000 after acquiring an additional 195,992 shares during the last quarter. Finally, Fred Alger Management LLC lifted its stake in shares of Astera Labs by 13.0% in the 1st quarter. Fred Alger Management LLC now owns 1,560,033 shares of the company’s stock valued at $93,087,000 after acquiring an additional 179,638 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALAB shares. Morgan Stanley restated an “overweight” rating and set a $210.00 price target on shares of Astera Labs in a research report on Wednesday. Stifel Nicolaus boosted their target price on Astera Labs from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Susquehanna upped their target price on Astera Labs from $80.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. CICC Research started coverage on Astera Labs in a research report on Friday, August 29th. They set an “outperform” rating and a $190.00 price target for the company. Finally, Evercore ISI upped their price objective on shares of Astera Labs from $104.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Astera Labs has a consensus rating of “Moderate Buy” and a consensus target price of $187.06.

Astera Labs Price Performance

Shares of ALAB opened at $152.50 on Thursday. Astera Labs has a 1 year low of $47.13 and a 1 year high of $262.90. The stock has a 50 day simple moving average of $171.71 and a two-hundred day simple moving average of $150.21. The firm has a market cap of $25.76 billion, a P/E ratio of 137.39, a P/E/G ratio of 2.66 and a beta of 1.51.

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.