Lecap Asset Management Ltd. Buys Shares of 32,925 Astera Labs, Inc. (NASDAQ:ALAB)

Lecap Asset Management Ltd. bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 32,925 shares of the company's stock, valued at approximately $1,725,000.

Several other large investors also recently added to or reduced their stakes in the business. Seven Grand Managers LLC boosted its position in shares of Astera Labs by 25.0% in the third quarter. Seven Grand Managers LLC now owns 125,000 shares of the company's stock worth $6,549,000 after purchasing an additional 25,000 shares during the period. Renaissance Capital LLC increased its stake in shares of Astera Labs by 20.0% in the third quarter. Renaissance Capital LLC now owns 23,760 shares of the company's stock worth $1,245,000 after purchasing an additional 3,967 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Astera Labs during the third quarter worth $594,000. Newbridge Financial Services Group Inc. boosted its position in shares of Astera Labs by 11,920.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company's stock worth $182,000 after acquiring an additional 2,980 shares during the last quarter. Finally, Sycomore Asset Management bought a new position in shares of Astera Labs during the second quarter worth $2,038,000.

Astera Labs Price Performance

ALAB stock traded down $0.49 during trading on Wednesday, hitting $67.80. 2,556,719 shares of the company's stock traded hands, compared to its average volume of 2,727,882. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $95.21. The business has a fifty day simple moving average of $49.38 and a 200 day simple moving average of $57.92.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. The business's revenue was up 17.8% on a year-over-year basis. Analysts anticipate that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on ALAB. Morgan Stanley upped their target price on shares of Astera Labs from $55.00 to $74.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Barclays dropped their target price on shares of Astera Labs from $85.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Evercore ISI dropped their target price on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Astera Labs from $85.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Finally, Craig Hallum dropped their target price on shares of Astera Labs from $90.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $73.09.

Insider Transactions at Astera Labs

In other news, Director Jack R. Lazar sold 2,000 shares of the firm's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the sale, the director now owns 135,000 shares in the company, valued at approximately $9,443,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jack R. Lazar sold 2,000 shares of the firm's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the transaction, the director now owns 135,000 shares of the company's stock, valued at $9,443,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jack R. Lazar sold 3,000 shares of the firm's stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total transaction of $185,070.00. Following the completion of the transaction, the director now directly owns 137,000 shares in the company, valued at $8,451,530. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 564,458 shares of company stock worth $31,970,841.

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.