Maverick Capital Ltd. Buys 159,480 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Maverick Capital Ltd. boosted its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 16.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,156,230 shares of the company's stock after acquiring an additional 159,480 shares during the period. Maverick Capital Ltd. owned about 0.73% of Astera Labs worth $60,575,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Fred Alger Management LLC boosted its holdings in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock valued at $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Vanguard Group Inc. acquired a new position in Astera Labs in the first quarter valued at $127,268,000. Westfield Capital Management Co. LP purchased a new stake in Astera Labs during the third quarter valued at about $52,049,000. The Manufacturers Life Insurance Company increased its stake in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock worth $46,054,000 after acquiring an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC purchased a new position in shares of Astera Labs in the 3rd quarter worth about $38,565,000.

Astera Labs Stock Up 3.7 %

Shares of NASDAQ:ALAB traded up $3.65 during midday trading on Friday, reaching $103.25. The company had a trading volume of 1,915,788 shares, compared to its average volume of 3,183,780. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $113.85. The stock's fifty day moving average price is $75.22 and its 200-day moving average price is $61.07.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $113.10 million for the quarter, compared to analysts' expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs's revenue was up 47.1% on a year-over-year basis. On average, equities research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In related news, CFO Michael Truett Tate sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $62.03, for a total value of $6,203,000.00. Following the transaction, the chief financial officer now owns 1,762,888 shares in the company, valued at approximately $109,351,942.64. This represents a 5.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jitendra Mohan sold 173,366 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $110.12, for a total transaction of $19,091,063.92. Following the transaction, the chief executive officer now directly owns 600,000 shares in the company, valued at approximately $66,072,000. The trade was a 22.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,897,820 shares of company stock valued at $168,252,298 in the last 90 days.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ALAB shares. Craig Hallum boosted their target price on Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Needham & Company LLC reiterated a "buy" rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Morgan Stanley upped their price target on shares of Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Roth Mkm increased their price target on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has a consensus rating of "Buy" and a consensus price target of $94.67.

Astera Labs 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.