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

Highland Capital Management LLC reduced its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 33.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,328 shares of the company’s stock after selling 10,094 shares during the period. Highland Capital Management LLC’s holdings in Astera Labs were worth $2,692,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. FMR LLC lifted its position in Astera Labs by 0.7% during the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after buying an additional 153,491 shares in the last quarter. Fred Alger Management LLC raised its holdings in shares of Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after acquiring an additional 47,569 shares during the last quarter. Maverick Capital Ltd. boosted its position in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Astera Labs in the third quarter valued at about $52,049,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

Shares of ALAB opened at $96.87 on Friday. The firm’s fifty day simple moving average is $122.61 and its 200-day simple moving average is $79.60. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to the consensus estimate 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 for the quarter was up 47.1% compared to the same quarter last year. Sell-side analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of 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 lifted their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $107.42.

Insider Activity at Astera Labs

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 transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares in the company, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jitendra Mohan sold 171,064 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock valued at $167,581,256 over the last ninety days.

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.