LMR Partners LLP Sells 125,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

LMR Partners LLP reduced its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 45.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,000 shares of the company's stock after selling 125,000 shares during the period. LMR Partners LLP owned 0.09% of Astera Labs worth $19,868,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Astera Labs by 354.9% in the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after purchasing an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after purchasing an additional 792,153 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after purchasing an additional 1,384,498 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth about $229,991,000. 60.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael E. Hurlston sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the transaction, the director now owns 91,794 shares in the company, valued at $8,452,391.52. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanjay Gajendra sold 165,000 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the sale, the insider now directly owns 755,000 shares in the company, valued at $54,178,800. The trade was a 17.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 873,990 shares of company stock valued at $71,404,162 in the last quarter.

Astera Labs Stock Performance

NASDAQ:ALAB traded up $1.53 during trading on Thursday, reaching $92.19. The company's stock had a trading volume of 4,402,054 shares, compared to its average volume of 3,912,584. The firm has a market cap of $15.20 billion, a price-to-earnings ratio of -53.29, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. The firm has a 50 day moving average of $65.52 and a 200-day moving average of $91.75. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to analysts' expectations of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The business's revenue for the quarter was up 144.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. Equities research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Raymond James began coverage on shares of Astera Labs in a research report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price for the company. Craig Hallum upped their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. Finally, Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $99.69.

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.