Adage Capital Partners GP L.L.C. Boosts Holdings in Astera Labs, Inc. $ALAB

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Astera Labs by 802.0%, acquiring an additional 412,500 shares worth approximately $27.68 million, bringing its total holdings to 463,932 shares.
• Astera Labs recently received various analyst ratings upgrades, with Morgan Stanley raising the target price from $155.00 to $200.00, reflecting strong confidence in the company's growth.
• Insider trading activity has seen notable sales, with CEO Jitendra Mohan selling 91,441 shares for over $16.78 million, resulting in a 4.04% reduction in his ownership stake.

Adage Capital Partners GP L.L.C. lifted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 802.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 463,932 shares of the company's stock after acquiring an additional 412,500 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.28% of Astera Labs worth $27,683,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Atreides Management LP raised its holdings in shares of Astera Labs by 153.3% during the first quarter. Atreides Management LP now owns 4,652,264 shares of the company's stock worth $277,601,000 after purchasing an additional 2,815,614 shares during the last quarter. PDT Partners LLC raised its position in Astera Labs by 112.3% during the 1st quarter. PDT Partners LLC now owns 53,157 shares of the company's stock worth $3,172,000 after buying an additional 28,121 shares during the last quarter. Royal Bank of Canada increased its holdings in Astera Labs by 167.3% during the 1st quarter. Royal Bank of Canada now owns 152,453 shares of the company's stock valued at $9,097,000 after acquiring an additional 95,409 shares in the last quarter. Graham Capital Management L.P. grew its holdings in shares of Astera Labs by 151.8% during the first quarter. Graham Capital Management L.P. now owns 50,652 shares of the company's stock worth $3,022,000 after buying an additional 30,537 shares in the last quarter. Finally, Analog Century Management LP lifted its position in Astera Labs by 33.3% during the first quarter. Analog Century Management LP now owns 707,130 shares of the company's stock valued at $42,194,000 after buying an additional 176,572 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Insider Activity

In other news, CFO Michael Truett Tate sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $171.38, for a total value of $17,138,000.00. Following the transaction, the chief financial officer owned 518,996 shares of the company's stock, valued at approximately $88,945,534.48. The trade was a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Sanjay Gajendra sold 280,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $170.02, for a total transaction of $47,605,600.00. Following the sale, the chief operating officer owned 5,525,545 shares of the company's stock, valued at approximately $939,453,160.90. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,832,489 shares of company stock valued at $264,172,396. 12.50% of the stock is currently owned by company insiders.

Astera Labs Price Performance

Shares of ALAB traded up $24.56 during mid-day trading on Monday, hitting $215.76. The company's stock had a trading volume of 7,915,977 shares, compared to its average volume of 4,964,125. The stock has a market capitalization of $35.86 billion, a price-to-earnings ratio of 387.04, a PEG ratio of 4.85 and a beta of 1.46. The firm has a 50-day moving average price of $141.64 and a 200 day moving average price of $99.01. Astera Labs, Inc. has a fifty-two week low of $36.85 and a fifty-two week high of $220.69.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.11. The firm had revenue of $191.93 million for the quarter, compared to analyst estimates of $172.46 million. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%.The company's revenue for the quarter was up 149.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 earnings per share. Astera Labs has set its Q3 2025 guidance at 0.380-0.390 EPS. As a group, equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on ALAB shares. CICC Research started coverage on Astera Labs in a report on Friday, August 29th. They set an "outperform" rating and a $190.00 price objective on the stock. Zacks Research raised Astera Labs to a "strong-buy" rating in a report on Tuesday, August 12th. Barclays reissued an "overweight" rating and issued a $155.00 price objective (up previously from $75.00) on shares of Astera Labs in a research report on Thursday, August 7th. Northland Capmk cut Astera Labs from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Finally, Evercore ISI boosted their price objective on Astera Labs from $104.00 to $215.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Astera Labs presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.00.

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.