Astera Labs, Inc. (NASDAQ:ALAB) Stake Lifted by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 158,424.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 321,804 shares of the company's stock after purchasing an additional 321,601 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.21% of Astera Labs worth $16,859,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ALAB. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the first quarter worth about $127,268,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs during the first quarter worth about $44,514,000. Capital World Investors purchased a new stake in Astera Labs during the first quarter worth approximately $44,514,000. Bamco Inc. NY purchased a new stake in Astera Labs during the first quarter worth approximately $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Astera Labs during the first quarter worth approximately $33,141,000.

Analyst Upgrades and Downgrades

ALAB has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Barclays boosted their price objective on Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Roth Mkm boosted their price objective on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus upped 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. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $92.36.

Astera Labs Trading Down 7.1 %

ALAB traded down $7.05 during trading on Monday, hitting $92.25. The company had a trading volume of 8,500,194 shares, compared to its average volume of 5,291,163. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $100.09. The business has a 50-day moving average of $59.05 and a 200-day moving average of $58.70.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) 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 firm had revenue of $113.10 million for the quarter, compared to analysts' expectations of $97.50 million. The firm's revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, research analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 sale, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares of the company's stock, valued at $11,626,644.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the completion of the sale, the general counsel now owns 333,474 shares in the company, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 614,458 shares of company stock valued at $36,455,841 over the last quarter.

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.