TimesSquare Capital Management LLC Cuts Position in Astera Labs, Inc. (NASDAQ:ALAB)

TimesSquare Capital Management LLC decreased its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 87.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,520 shares of the company's stock after selling 140,020 shares during the quarter. TimesSquare Capital Management LLC's holdings in Astera Labs were worth $1,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $43,000. Sound Income Strategies LLC grew its holdings in shares of Astera Labs by 34.7% during the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock valued at $47,000 after buying an additional 204 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Astera Labs by 55.7% in the first quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALAB. Needham & Company LLC dropped their target price on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. William Blair began coverage on shares of Astera Labs in a report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Barclays raised their target price on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Susquehanna began coverage on shares of Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price on the stock. Finally, Roth Capital set a $100.00 target price on shares of Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.00.

Insider Activity

In other news, CEO Jitendra Mohan sold 11,282 shares of the firm's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $102.46, for a total transaction of $1,155,953.72. Following the sale, the chief executive officer directly owned 509,174 shares in the company, valued at $52,169,968.04. This trade represents a 2.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Manuel Alba sold 30,991 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $91.13, for a total transaction of $2,824,209.83. Following the sale, the director owned 418,863 shares in the company, valued at $38,170,985.19. The trade was a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,965,984 shares of company stock valued at $178,631,873 over the last 90 days.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $90.32 on Tuesday. The stock has a market capitalization of $14.90 billion, a PE ratio of 410.56, a P/E/G ratio of 4.50 and a beta of 1.18. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company's fifty day simple moving average is $90.83 and its 200-day simple moving average is $87.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The company's revenue was up 144.1% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. As a group, research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.

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