36,647 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Sycomore Asset Management

Sycomore Asset Management purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,647 shares of the company’s stock, valued at approximately $2,038,000.

A number of other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. bought a new stake in Astera Labs during the first quarter valued at $952,000. Vanguard Group Inc. purchased a new position in shares of Astera Labs during the first quarter worth about $127,268,000. Forge First Asset Management Inc. bought a new position in shares of Astera Labs in the first quarter worth approximately $1,143,000. Price T Rowe Associates Inc. MD purchased a new stake in Astera Labs in the first quarter valued at approximately $44,514,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Astera Labs in the 1st quarter worth approximately $18,666,000.

Insider Activity

In related news, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70. Following the completion of the transaction, the general counsel now directly owns 333,474 shares of the company’s stock, valued at $13,482,353.82. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares of the company’s stock, valued at $38,748,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 276,791 shares of company stock valued at $12,933,588.

Astera Labs Stock Performance

Shares of ALAB stock opened at $52.39 on Tuesday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $95.21. The stock has a 50 day simple moving average of $43.98.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Research analysts forecast that Astera Labs, Inc. will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Evercore ISI dropped their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Roth Mkm reduced their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC lowered their price objective on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Stifel Nicolaus cut their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $71.36.

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.