TimesSquare Capital Management LLC Has $21.26 Million Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

TimesSquare Capital Management LLC cut its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 50.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,540 shares of the company’s stock after selling 161,264 shares during the period. TimesSquare Capital Management LLC’s holdings in Astera Labs were worth $21,264,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ALAB. FMR LLC lifted its holdings in shares of Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares during the period. Fred Alger Management LLC lifted 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. Jennison Associates LLC acquired a new stake in shares of Astera Labs during the 4th quarter worth about $229,991,000. JPMorgan Chase & Co. increased 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 worth $82,164,000 after purchasing an additional 47,569 shares in the last quarter. Finally, Maverick Capital Ltd. increased 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 worth $60,575,000 after purchasing an additional 159,480 shares in the last quarter. 60.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 16,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the transaction, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Manuel Alba sold 11,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now owns 456,863 shares in the company, valued at $53,681,402.50. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 468,180 shares of company stock valued at $49,959,630.

Astera Labs Stock Down 3.6 %

Shares of ALAB stock opened at $89.90 on Thursday. The company’s fifty day simple moving average is $118.33 and its 200-day simple moving average is $84.52. The firm has a market cap of $14.26 billion and a PE ratio of -51.97. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.76%. On average, equities analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Roth Mkm increased their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Citigroup began coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. Barclays lifted their price target on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One research 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 data from MarketBeat.com, Astera Labs has a consensus rating of “Buy” and an average target price of $115.33.

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.