Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Sycomore Asset Management

Sycomore Asset Management boosted its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 46.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 53,712 shares of the company’s stock after acquiring an additional 17,065 shares during the quarter. Sycomore Asset Management’s holdings in Astera Labs were worth $2,941,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new stake in Astera Labs during the first quarter worth about $127,268,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Astera Labs during the first quarter worth approximately $44,514,000. Capital World Investors acquired a new position in Astera Labs in the first quarter valued at approximately $44,514,000. Bamco Inc. NY acquired a new position in Astera Labs in the first quarter valued at approximately $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new position in Astera Labs in the first quarter valued at approximately $33,141,000.

Insider Activity

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of Astera Labs stock in a transaction that occurred on 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 sale, the insider now directly owns 855,000 shares in the company, valued at $38,748,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares in the company, valued at approximately $9,443,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares of the company’s stock, valued at $38,748,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,408,458 shares of company stock valued at $113,124,841 in the last three months.

Astera Labs Trading Up 0.2 %

Shares of ALAB stock traded up $0.19 during mid-day trading on Thursday, reaching $89.49. The stock had a trading volume of 1,259,552 shares, compared to its average volume of 3,031,640. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $100.09. The business has a 50-day simple moving average of $62.01 and a 200 day simple moving average of $59.09.

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 return on equity of 15.57% and a negative net margin of 30.69%. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The firm’s revenue was up 47.1% on a year-over-year basis. On average, analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ALAB shares. Morgan Stanley increased their price objective on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barclays upped their price target on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Roth Mkm upped their price target on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $92.36.

About Astera Labs

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.