Allstate Corp Makes New $1.66 Million Investment in Astera Labs, Inc. $ALAB

Key Points

• Allstate Corp initiated a new position in Astera Labs during the fourth quarter, buying 9,972 shares valued at about $1.66 million.
• Astera Labs reported a strong quarter, with EPS of $0.61 and revenue of $308.36 million, both ahead of analyst expectations. Revenue jumped 93.5% year over year.
• Despite the positive results, insider selling was notable, including a large sale by COO Sanjay Gajendra. Analysts remain broadly positive, with a consensus rating of Moderate Buy and a target price of $233.75.

Allstate Corp bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,972 shares of the company's stock, valued at approximately $1,659,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. raised its position in shares of Astera Labs by 374.1% during the third quarter. Assetmark Inc. now owns 128 shares of the company's stock valued at $25,000 after buying an additional 101 shares during the last quarter. Hilltop National Bank raised its position in shares of Astera Labs by 100.0% during the fourth quarter. Hilltop National Bank now owns 200 shares of the company's stock valued at $33,000 after buying an additional 100 shares during the last quarter. Aventura Private Wealth LLC bought a new stake in shares of Astera Labs during the fourth quarter valued at approximately $33,000. Wexford Capital LP bought a new stake in shares of Astera Labs during the third quarter valued at approximately $39,000. Finally, National Bank of Canada FI raised its position in shares of Astera Labs by 159.0% during the third quarter. National Bank of Canada FI now owns 202 shares of the company's stock valued at $39,000 after buying an additional 124 shares during the last quarter. Institutional investors own 60.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALAB shares. Roth Mkm reiterated a "buy" rating and set a $275.00 price objective on shares of Astera Labs in a research report on Wednesday, May 6th. Royal Bank Of Canada raised their target price on shares of Astera Labs from $250.00 to $270.00 and gave the company an "outperform" rating in a report on Wednesday, May 6th. Morgan Stanley raised their target price on shares of Astera Labs from $210.00 to $240.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. TD Cowen raised their target price on shares of Astera Labs from $140.00 to $225.00 and gave the company a "hold" rating in a report on Wednesday, May 6th. Finally, UBS Group assumed coverage on shares of Astera Labs in a report on Tuesday, April 21st. They issued a "neutral" rating and a $180.00 target price for the company. Twelve research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.75.

Astera Labs Stock Up 7.3%

NASDAQ ALAB opened at $349.17 on Friday. The company has a fifty day moving average of $186.48 and a two-hundred day moving average of $163.86. The firm has a market capitalization of $59.85 billion, a price-to-earnings ratio of 235.93, a PEG ratio of 4.31 and a beta of 3.35. Astera Labs, Inc. has a 52 week low of $84.78 and a 52 week high of $354.53.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.07. The firm had revenue of $308.36 million for 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 revenue for the quarter was up 93.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. Astera Labs has set its Q2 2026 guidance at 0.680-0.700 EPS. Equities research analysts anticipate that Astera Labs, Inc. will post 1.84 EPS for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 796 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $291.03, for a total value of $231,659.88. Following the completion of the sale, the general counsel directly owned 103,343 shares of the company's stock, valued at $30,075,913.29. The trade was a 0.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Sanjay Gajendra sold 400,000 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $290.30, for a total transaction of $116,120,000.00. Following the completion of the sale, the chief operating officer directly owned 5,064,213 shares of the company's stock, valued at approximately $1,470,141,033.90. This trade represents a 7.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,316,257 shares of company stock valued at $474,860,636 in the last three months. Company insiders own 12.50% of the company's stock.

About Astera Labs

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.

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