Sycomore Asset Management Sells 36,481 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Sycomore Asset Management reduced its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 67.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,231 shares of the company’s stock after selling 36,481 shares during the quarter. Sycomore Asset Management’s holdings in Astera Labs were worth $2,282,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALAB. FMR LLC increased its stake in Astera Labs by 0.7% in the 3rd 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 in the last quarter. Fred Alger Management LLC grew its holdings in 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 valued at $147,840,000 after buying an additional 2,628,765 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Astera Labs in the fourth quarter worth $229,991,000. JPMorgan Chase & Co. boosted its position in shares of Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after acquiring an additional 47,569 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its stake in Astera Labs by 16.0% in 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. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insiders Place Their Bets

In related news, Director Stefan A. Dyckerhoff sold 197,297 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the transaction, the director now directly owns 6,148 shares in the company, valued at approximately $556,455.48. The trade was a 96.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 7,398 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $671,812.38. Following the completion of the sale, the chief financial officer now owns 286,424 shares of the company’s stock, valued at approximately $26,010,163.44. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 846,452 shares of company stock worth $86,427,256.

Analyst Ratings Changes

ALAB has been the subject of several research analyst reports. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Morgan Stanley decreased their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus upped their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $107.42.

Astera Labs Stock Down 3.1 %

ALAB opened at $101.29 on Monday. The firm’s fifty day simple moving average is $122.39 and its two-hundred day simple moving average is $81.91. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

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.