LMR Partners LLP Lowers Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

LMR Partners LLP decreased its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 45.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 150,000 shares of the company’s stock after selling 125,000 shares during the period. LMR Partners LLP owned approximately 0.09% of Astera Labs worth $19,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ALAB. Steward Partners Investment Advisory LLC lifted its stake in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the 4th quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new position in Astera Labs in the 4th quarter worth $28,000. GAMMA Investing LLC boosted its position in Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after buying an additional 237 shares during the period. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Price Performance

Shares of ALAB opened at $71.20 on Monday. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of -41.16, a PEG ratio of 6.18 and a beta of 0.33. The company has a 50-day moving average of $64.32 and a 200 day moving average of $91.73. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The company had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. During the same period last year, the business posted $0.10 EPS. Astera Labs’s quarterly revenue was up 144.1% on a year-over-year basis. On average, equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the transaction, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. This represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Truett Tate sold 34,474 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at $22,487,360.94. This trade represents a 12.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 633,990 shares of company stock worth $54,235,012.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALAB. Barclays boosted their target price on Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, May 7th. Morgan Stanley dropped their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Raymond James began coverage on Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price target for the company. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $100.85.

Astera Labs 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.