Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lowered its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 50.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,540 shares of the company's stock after selling 161,264 shares during the period. TimesSquare Capital Management LLC owned about 0.10% of Astera Labs worth $21,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ALAB. Fred Alger Management LLC increased its stake 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 worth $147,840,000 after purchasing an additional 2,628,765 shares in the last quarter. Jennison Associates LLC acquired a new position in Astera Labs during the fourth quarter worth about $229,991,000. Westfield Capital Management Co. LP acquired a new position in Astera Labs during the third quarter worth about $52,049,000. The Manufacturers Life Insurance Company boosted its position in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock worth $46,054,000 after acquiring an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC acquired a new position in Astera Labs during the third quarter worth about $38,565,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 173,366 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $110.12, for a total value of $19,091,063.92. Following the sale, the chief executive officer now directly owns 600,000 shares of the company's stock, valued at approximately $66,072,000. This represents a 22.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Stefan A. Dyckerhoff sold 7,814 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total transaction of $837,426.38. Following the completion of the sale, the director now directly owns 121,803 shares in the company, valued at approximately $13,053,627.51. This represents a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 883,370 shares of company stock valued at $86,643,058 in the last ninety days.

Astera Labs Price Performance

Shares of ALAB stock traded down $2.71 during trading hours on Friday, hitting $85.72. The company had a trading volume of 3,958,728 shares, compared to its average volume of 6,475,894. The company's fifty day moving average is $116.72 and its 200 day moving average is $85.13. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a market capitalization of $13.90 billion and a PE ratio of -49.55.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Equities analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Barclays boosted their price target on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Citigroup initiated coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a "buy" rating and a $120.00 price target 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 report on Tuesday, November 5th. Finally, Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $115.33.

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.