Maverick Capital Ltd. Has $60.58 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

Maverick Capital Ltd. lifted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 16.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,156,230 shares of the company’s stock after buying an additional 159,480 shares during the quarter. Maverick Capital Ltd.’s holdings in Astera Labs were worth $60,575,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Avior Wealth Management LLC bought a new position in Astera Labs during the third quarter worth about $361,000. Meeder Asset Management Inc. bought a new position in Astera Labs during the third quarter worth about $1,141,000. Bank of Hawaii bought a new position in Astera Labs during the third quarter worth about $1,409,000. Vanguard Group Inc. bought a new position in Astera Labs in the 1st quarter valued at about $127,268,000. Finally, Rakuten Securities Inc. bought a new position in Astera Labs in the 3rd quarter valued at about $291,000.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. This represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the sale, the director now directly owns 506,863 shares in the company, valued at approximately $25,343,150. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,897,820 shares of company stock valued at $168,252,298 over the last three months.

Analyst Upgrades and Downgrades

Several research firms have commented on ALAB. Citigroup began coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Barclays lifted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Evercore ISI cut their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus price target of $94.67.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $103.25 on Friday. The company’s 50-day moving average is $75.22 and its 200 day moving average is $61.07. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $113.85.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

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.