Alkeon Capital Management LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Alkeon Capital Management LLC purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, HoldingsChannel reports. The fund purchased 250,000 shares of the company’s stock, valued at approximately $13,098,000.

A number of other large investors have also recently modified their holdings of ALAB. Vanguard Group Inc. purchased a new stake in Astera Labs in the first quarter valued at approximately $127,268,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Astera Labs during the 1st quarter valued at $44,514,000. Janus Henderson Group PLC bought a new stake in shares of Astera Labs during the 1st quarter worth $20,025,000. Linden Thomas Advisory Services LLC purchased a new position in Astera Labs in the second quarter worth $3,187,000. Finally, Renaissance Capital LLC bought a new position in Astera Labs in the second quarter valued at $1,198,000.

Insider Activity

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the completion of the transaction, the director now owns 6,148 shares of the company’s stock, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sanjay Gajendra sold 76,701 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares in the company, valued at $38,748,600. This represents a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,897,820 shares of company stock valued at $168,252,298.

Astera Labs Stock Down 5.6 %

ALAB opened at $99.60 on Friday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $113.85. The business has a 50 day simple moving average of $74.17 and a two-hundred day simple moving average of $60.84.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analyst estimates 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 revenue was up 47.1% compared to the same quarter last year. Research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALAB. Barclays upped their price objective on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm increased their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, Evercore ISI cut their price target 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. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average target price of $94.67.

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.