TimesSquare Capital Management LLC Decreases Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

TimesSquare Capital Management LLC lowered its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 50.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,540 shares of the company's stock after selling 161,264 shares during the period. TimesSquare Capital Management LLC owned about 0.10% of Astera Labs worth $21,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ALAB. Fred Alger Management LLC lifted its position in Astera Labs by 1,361.0% in the third 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 period. Jennison Associates LLC acquired a new stake in Astera Labs in the fourth quarter valued at about $229,991,000. Westfield Capital Management Co. LP acquired a new stake in Astera Labs in the third quarter valued at about $52,049,000. The Manufacturers Life Insurance Company lifted its position in Astera Labs by 15,477.8% in the third 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 period. Finally, Spyglass Capital Management LLC purchased a new position in Astera Labs in the third quarter valued at about $38,565,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Trading Down 2.8 %

Astera Labs stock traded down $2.43 during midday trading on Friday, reaching $86.00. 2,845,374 shares of the stock traded hands, compared to its average volume of 5,426,317. The firm has a fifty day moving average price of $117.65 and a two-hundred day moving average price of $84.55. The firm has a market cap of $13.94 billion and a price-to-earnings ratio of -49.48. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALAB. Stifel Nicolaus increased their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Roth Mkm raised their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC restated a "buy" rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Astera Labs presently has an average rating of "Buy" and an average target price of $115.33.

Insider Buying and Selling

In other news, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. The trade was a 2.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Truett Tate sold 34,474 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the completion of the sale, the chief financial officer now owns 244,242 shares of the company's stock, valued at $22,487,360.94. This trade represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 532,690 shares of company stock worth $55,253,691 in the last ninety days.

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.