Astera Labs, Inc. (NASDAQ:ALAB) Stock Holdings Cut by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC cut its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 52,161 shares of the company’s stock after selling 313 shares during the quarter. Astera Labs accounts for 0.9% of Linden Thomas Advisory Services LLC’s holdings, making the stock its 6th largest holding. Linden Thomas Advisory Services LLC’s holdings in Astera Labs were worth $6,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. FMR LLC lifted its stake in Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after buying an additional 153,491 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Astera Labs by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after acquiring an additional 47,569 shares in the last quarter. Maverick Capital Ltd. boosted its stake in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Astera Labs during the third quarter worth approximately $52,049,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Down 6.6 %

Shares of Astera Labs stock opened at $115.55 on Friday. The business’s fifty day simple moving average is $123.01 and its 200-day simple moving average is $78.77. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. As a group, sell-side analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 2,513 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the transaction, the general counsel now owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the sale, the director now owns 129,617 shares in the company, valued at approximately $11,626,644.90. This represents a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock valued at $167,581,256 in the last 90 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Northland Capmk cut shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Roth Mkm boosted their price target 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report 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 report on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

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.