3,384 Shares in Astera Labs, Inc. $ALAB Acquired by Patten Group Inc.

Key Points

• Patten Group Inc. bought a new stake in Astera Labs during the first quarter, purchasing 3,384 shares valued at about $371,000.
• Astera Labs posted strong quarterly results, beating estimates with $0.61 EPS and $308.36 million in revenue, with revenue up 93.5% year over year.
• Analysts remain generally positive, though mixed: the stock has a Moderate Buy consensus and a consensus price target of $265.75, while several firms recently raised their targets and one downgraded the stock to market perform.

Patten Group Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,384 shares of the company's stock, valued at approximately $371,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Strs Ohio grew its position in Astera Labs by 996.3% in the 1st quarter. Strs Ohio now owns 33,086 shares of the company's stock valued at $3,626,000 after buying an additional 30,068 shares in the last quarter. Essex Financial Services Inc. raised its position in shares of Astera Labs by 4.2% during the 1st quarter. Essex Financial Services Inc. now owns 27,169 shares of the company's stock worth $2,978,000 after buying an additional 1,086 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Astera Labs by 5.9% in the 1st quarter. IFM Investors Pty Ltd now owns 26,195 shares of the company's stock worth $2,871,000 after acquiring an additional 1,469 shares during the period. Redwood Wealth Management Group LLC boosted its holdings in shares of Astera Labs by 17.0% in the first quarter. Redwood Wealth Management Group LLC now owns 2,610 shares of the company's stock valued at $286,000 after acquiring an additional 380 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of Astera Labs by 0.6% in the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 44,037 shares of the company's stock valued at $4,826,000 after acquiring an additional 254 shares in the last quarter. Institutional investors own 60.47% of the company's stock.

Analysts Set New Price Targets

ALAB has been the topic of several recent analyst reports. Northland Securities cut Astera Labs from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 26th. Jefferies Financial Group reiterated a "buy" rating and set a $270.00 price target on shares of Astera Labs in a research report on Wednesday, May 6th. Needham & Company LLC boosted their price objective on Astera Labs from $220.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. UBS Group upped their price objective on Astera Labs from $205.00 to $400.00 and gave the company a "neutral" rating in a report on Monday. Finally, Stifel Nicolaus raised their target price on Astera Labs from $260.00 to $460.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Twelve analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, Astera Labs has an average rating of "Moderate Buy" and a consensus target price of $265.75.

Astera Labs Stock Performance

Astera Labs stock opened at $406.42 on Friday. The firm has a market cap of $69.66 billion, a price-to-earnings ratio of 274.61, a price-to-earnings-growth ratio of 4.66 and a beta of 3.66. Astera Labs, Inc. has a 1 year low of $88.18 and a 1 year high of $499.48. The firm's 50 day moving average price is $314.72 and its two-hundred day moving average price is $205.55.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.07. The company had revenue of $308.36 million during the quarter, compared to the consensus estimate of $292.19 million. Astera Labs had a return on equity of 18.49% and a net margin of 26.72%.The company's quarterly revenue was up 93.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. Astera Labs has set its Q2 2026 guidance at 0.680-0.700 EPS. As a group, equities analysts predict that Astera Labs, Inc. will post 1.84 EPS for the current fiscal year.

Insider Activity at Astera Labs

In other Astera Labs news, Director Bethany Mayer sold 686 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $395.04, for a total value of $270,997.44. Following the completion of the transaction, the director directly owned 5,550 shares in the company, valued at $2,192,472. This trade represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stefan A. Dyckerhoff sold 3,505 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $450.00, for a total transaction of $1,577,250.00. Following the sale, the director owned 57,466 shares in the company, valued at $25,859,700. This represents a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,981,441 shares of company stock valued at $444,969,514. Corporate insiders own 10.40% of the company's stock.

Astera Labs Profile

Astera Labs is a fabless semiconductor company that develops connectivity solutions for data center and cloud infrastructure. The firm focuses on addressing signal integrity and link management challenges that arise as server architectures incorporate higher-bandwidth processors and accelerators. Its technology is aimed at improving reliability and performance for high-speed interconnects used in servers, storage systems and compute accelerators.

The company's product portfolio centers on silicon devices and accompanying firmware and software that enhance and manage high-speed links.

Want to see what other hedge funds are holding ALAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astera Labs, Inc. (NASDAQ:ALAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.