250,000 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Alkeon Capital Management LLC

Alkeon Capital Management LLC purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 250,000 shares of the company’s stock, valued at approximately $13,098,000. Alkeon Capital Management LLC owned approximately 0.16% of Astera Labs at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ALAB. Vanguard Group Inc. bought a new stake in shares of Astera Labs during the first quarter worth about $127,268,000. Westfield Capital Management Co. LP acquired a new position in Astera Labs during the 3rd quarter valued at about $52,049,000. The Manufacturers Life Insurance Company boosted its stake in Astera Labs by 15,477.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after purchasing an additional 873,412 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Astera Labs during the 1st quarter worth approximately $44,514,000. Finally, TimesSquare Capital Management LLC raised its stake in shares of Astera Labs by 158,424.1% in the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock worth $16,859,000 after purchasing an additional 321,601 shares during the last quarter.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Craig Hallum lifted their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Stifel Nicolaus raised their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus price target of $94.67.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the transaction, the director now owns 135,000 shares in the company, valued at $9,443,250. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 173,366 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $110.12, for a total value of $19,091,063.92. Following the sale, the chief executive officer now owns 600,000 shares in the company, valued at approximately $66,072,000. This represents a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,897,820 shares of company stock worth $168,252,298 over the last quarter.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $99.60 on Friday. The stock has a fifty day simple moving average of $74.17 and a two-hundred day simple moving average of $60.84. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $113.85.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The business’s revenue was up 47.1% compared to the same quarter last year. Equities research analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

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.