10,778 Shares in Astera Labs, Inc. $ALAB Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• Virginia Retirement Systems bought 10,778 Astera Labs shares worth approximately $5.2 million in the second quarter. Institutional investors now own 60.47% of the company.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $348.33; several firms recently raised their targets as high as $500.
• Astera Labs reported better-than-expected quarterly results, with revenue up 104.5% year over year, but the stock opened at $288.85 after declining 6.9%. Insiders have sold roughly $209.7 million in shares over the past 90 days, primarily to cover tax obligations.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,778 shares of the company's stock, valued at approximately $5,206,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. bought a new stake in shares of Astera Labs during the fourth quarter valued at approximately $18,708,000. Swedbank AB lifted its holdings in shares of Astera Labs by 76.8% in the 4th quarter. Swedbank AB now owns 78,140 shares of the company's stock worth $12,999,000 after purchasing an additional 33,940 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in shares of Astera Labs in the 4th quarter worth $499,000. Revere Asset Management Inc acquired a new stake in Astera Labs in the 4th quarter valued at $589,000. Finally, Banque Cantonale Vaudoise grew its position in Astera Labs by 85.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,990 shares of the company's stock valued at $766,000 after purchasing an additional 3,229 shares during the period. 60.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ALAB. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $350.00 price objective on the stock in a report on Monday, August 17th. UBS Group reiterated a "neutral" rating and set a $425.00 price objective on shares of Astera Labs in a report on Wednesday, August 5th. Royal Bank Of Canada boosted their target price on shares of Astera Labs from $425.00 to $500.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Roth Capital reaffirmed a "buy" rating and issued a $450.00 price target on shares of Astera Labs in a research report on Wednesday, August 5th. Finally, Bank of America lifted their price target on Astera Labs from $240.00 to $450.00 and gave the company a "neutral" rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.33.

Insiders Place Their Bets

In other Astera Labs news, General Counsel Philip Mazzara sold 6,801 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $340.50, for a total value of $2,315,740.50. Following the completion of the sale, the general counsel directly owned 96,542 shares of the company's stock, valued at approximately $32,872,551. This represents a 6.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Sanjay Gajendra sold 90,630 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $340.35, for a total transaction of $30,845,920.50. Following the completion of the sale, the chief operating officer owned 1,119,038 shares of the company's stock, valued at approximately $380,864,583.30. This trade represents a 7.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 592,244 shares of company stock worth $209,729,973 in the last ninety days. 10.40% of the stock is owned by corporate insiders.

Astera Labs Trading Down 6.9%

NASDAQ ALAB opened at $288.85 on Wednesday. The business has a fifty day simple moving average of $323.95 and a 200 day simple moving average of $257.68. Astera Labs, Inc. has a 12 month low of $97.89 and a 12 month high of $499.48. The firm has a market capitalization of $50.11 billion, a P/E ratio of 143.00 and a beta of 3.77.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.11. The firm had revenue of $392.40 million for the quarter, compared to the consensus estimate of $360.85 million. Astera Labs had a net margin of 30.74% and a return on equity of 19.24%. The business's revenue for the quarter was up 104.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. As a group, sell-side analysts predict that Astera Labs, Inc. will post 2.7 EPS for the current fiscal year.

Astera Labs Company Profile

Astera Labs, Inc is a semiconductor company that develops connectivity solutions for cloud and artificial intelligence infrastructure. Its products are designed to help data centers connect, expand and manage compute, memory, storage and networking resources in high-performance server systems.

The company's product portfolio includes semiconductor-based connectivity solutions such as PCI Express (PCIe) and Compute Express Link (CXL) retimers, fabric switches and memory connectivity products.

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