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

LMR Partners LLP boosted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 175.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 275,000 shares of the company’s stock after acquiring an additional 175,000 shares during the period. LMR Partners LLP’s holdings in Astera Labs were worth $14,407,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. acquired a new stake in shares of Astera Labs during the 1st quarter worth approximately $952,000. Vanguard Group Inc. purchased a new position in Astera Labs in the 1st quarter worth approximately $127,268,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Astera Labs in the 1st quarter worth $1,484,000. Capital Research Global Investors bought a new stake in Astera Labs during the 1st quarter valued at about $22,257,000. Finally, Capital World Investors purchased a new position in shares of Astera Labs in the first quarter worth approximately $44,514,000.

Astera Labs Stock Performance

ALAB opened at $86.45 on Monday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $100.09. The company has a fifty day moving average price of $63.88 and a 200-day moving average price of $59.02.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Roth Mkm boosted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays upped their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Evercore ISI dropped their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Craig Hallum upped their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and an average target price of $92.36.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the transaction, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. This represents a 11.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jack R. Lazar sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the sale, the director now directly owns 135,000 shares in the company, valued at approximately $9,443,250. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,408,458 shares of company stock worth $113,124,841 in the last three months.

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.