Sycomore Asset Management Has $2.94 Million Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Sycomore Asset Management boosted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 46.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,712 shares of the company’s stock after buying an additional 17,065 shares during the period. Sycomore Asset Management’s holdings in Astera Labs were worth $2,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Sei Investments Co. acquired a new position in Astera Labs in the 1st quarter valued at approximately $952,000. Lord Abbett & CO. LLC acquired a new stake in shares of Astera Labs during the first quarter worth $33,141,000. Forge First Asset Management Inc. acquired a new stake in shares of Astera Labs during the first quarter worth $1,143,000. Vanguard Group Inc. bought a new position in Astera Labs during the first quarter worth about $127,268,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Astera Labs during the first quarter worth about $1,484,000.

Astera Labs Trading Up 0.2 %

Astera Labs stock traded up $0.19 during mid-day trading on Thursday, reaching $89.49. 1,259,552 shares of the company traded hands, compared to its average volume of 3,031,640. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $100.09. The firm’s fifty day moving average is $62.01 and its two-hundred day moving average is $59.09.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share 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 firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The business’s revenue was up 47.1% compared to the same quarter last year. Analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALAB. Barclays upped their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Craig Hallum lifted their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs presently has an average rating of “Buy” and an average target price of $92.36.

Insider Buying and Selling

In other news, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the transaction, the insider now owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, General Counsel Philip Mazzara sold 42,090 shares of the business’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 transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the transaction, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,408,458 shares of company stock worth $113,124,841.

Astera Labs Company 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.