LMR Partners LLP Has $14.41 Million Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

LMR Partners LLP boosted its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 175.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,000 shares of the company's stock after purchasing an additional 175,000 shares during the period. LMR Partners LLP owned about 0.18% of Astera Labs worth $14,407,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ALAB. Sei Investments Co. acquired a new position in shares of Astera Labs during the 1st quarter valued at $952,000. Vanguard Group Inc. acquired a new stake in shares of Astera Labs in the 1st quarter valued at about $127,268,000. Rakuten Securities Inc. acquired a new position in shares of Astera Labs in the 3rd quarter worth approximately $291,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Astera Labs during the first quarter worth $44,514,000. Finally, Lisanti Capital Growth LLC boosted its stake in Astera Labs by 99.2% in the third quarter. Lisanti Capital Growth LLC now owns 59,990 shares of the company's stock valued at $3,143,000 after acquiring an additional 29,875 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALAB shares. JPMorgan Chase & Co. upped their price objective on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Evercore ISI decreased their price objective on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Barclays upped their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs has a consensus rating of "Buy" and an average price target of $94.67.

Insider Activity at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the sale, the insider now owns 775,000 shares in the company, valued at $74,857,250. The trade was a 48.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 11.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,408,458 shares of company stock worth $113,124,841.

Astera Labs Price Performance

NASDAQ ALAB traded up $3.07 during trading on Monday, reaching $89.52. 5,037,086 shares of the company's stock were exchanged, compared to its average volume of 3,059,404. The business has a 50 day moving average price of $63.88 and a 200-day moving average price of $59.02. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $100.09.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company's quarterly revenue was up 47.1% compared to the same quarter last year. On average, analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current 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.