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

LMR Partners LLP boosted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 175.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 275,000 shares of the company’s stock after acquiring an additional 175,000 shares during the period. LMR Partners LLP owned approximately 0.18% of Astera Labs worth $14,407,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ALAB. Vanguard Group Inc. acquired a new stake in Astera Labs in the 1st quarter valued at about $127,268,000. Price T Rowe Associates Inc. MD purchased a new stake in Astera Labs in the 1st quarter worth about $44,514,000. Capital World Investors purchased a new position in shares of Astera Labs during the first quarter worth about $44,514,000. Bamco Inc. NY bought a new stake in Astera Labs in the first quarter valued at approximately $37,095,000. Finally, TimesSquare Capital Management LLC grew its stake in Astera Labs by 158,424.1% in the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock worth $16,859,000 after purchasing an additional 321,601 shares during the period.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $86.45 on Monday. The stock’s fifty day moving average is $63.88 and its 200 day moving average is $59.02. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $100.09.

Astera Labs (NASDAQ:ALAB) 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. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s revenue was up 47.1% on a year-over-year basis. As a group, equities analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ALAB. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum lifted their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus increased their price target on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $92.36.

Insiders Place Their Bets

In other news, insider Sanjay Gajendra sold 76,701 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares of the company’s stock, valued at $38,748,600. This trade represents a 8.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 8,000 shares of Astera Labs stock in a transaction on Monday, August 26th. The shares were sold at an average price of $43.12, for a total value of $344,960.00. Following the completion of the sale, the general counsel now directly owns 325,474 shares of the company’s stock, valued at approximately $14,034,438.88. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,408,458 shares of company stock valued at $113,124,841.

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.