Astera Labs, Inc. (NASDAQ:ALAB) Holdings Lifted by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 5.7% during the third quarter, Holdings Channel.com reports. The firm owned 5,284 shares of the company’s stock after buying an additional 284 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Astera Labs were worth $277,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. FMR LLC grew its position in Astera Labs by 0.7% in 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 during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Astera Labs in the third quarter worth approximately $52,049,000. The Manufacturers Life Insurance Company raised its holdings in shares of Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after acquiring an additional 873,412 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Astera Labs by 253.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 322,993 shares of the company’s stock valued at $16,922,000 after buying an additional 231,585 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its position in Astera Labs by 158,424.1% during the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock worth $16,859,000 after buying an additional 321,601 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insider Activity

In related news, Director Jack R. Lazar sold 3,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the transaction, the director now owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. This trade represents a 2.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Manuel Alba sold 37,000 shares of Astera Labs stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00. Following the completion of the sale, the director now directly owns 498,863 shares in the company, valued at approximately $25,102,786.16. This represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,015,119 shares of company stock valued at $188,480,349 in the last quarter.

Analyst Ratings Changes

Several research firms recently issued reports on ALAB. Roth Mkm upped their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on 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 increased their price target on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays lifted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $98.67.

Astera Labs Stock Performance

Astera Labs stock opened at $132.17 on Friday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $136.39. The company’s 50-day moving average is $95.41 and its two-hundred day moving average is $66.44.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business 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%. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, equities analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current 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.