Altimeter Capital Management LP Buys 397,267 Shares of Astera Labs, Inc. $ALAB

Key Points

• Altimeter Capital Management LP increased its ownership of Astera Labs by 68% in the first quarter, acquiring an additional 397,267 shares, bringing its total to 981,697 shares.
• Analysts have mixed views on Astera Labs, with Barclays increasing its price target to $155 and Northland Securities downgrading it to a $120 target, while Evercore ISI raised its target from $104 to $215.
• Astera Labs' stock has fluctuated, currently priced at $174.24, down 4.4%, with a market cap of approximately $28.96 billion and a significant 149.5% year-over-year revenue increase reported for its recent quarter.

Altimeter Capital Management LP boosted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 68.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 981,697 shares of the company's stock after purchasing an additional 397,267 shares during the quarter. Astera Labs makes up approximately 1.2% of Altimeter Capital Management LP's holdings, making the stock its 16th largest position. Altimeter Capital Management LP owned approximately 0.60% of Astera Labs worth $58,578,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hoey Investments Inc. boosted its position in Astera Labs by 4.2% during the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock valued at $298,000 after purchasing an additional 200 shares during the period. Sound Income Strategies LLC boosted its position in Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after acquiring an additional 204 shares during the period. Allworth Financial LP boosted its position in Astera Labs by 20.4% during the 1st quarter. Allworth Financial LP now owns 1,394 shares of the company's stock worth $90,000 after acquiring an additional 236 shares during the period. GAMMA Investing LLC boosted its position in Astera Labs by 55.7% during the 1st quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after acquiring an additional 284 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its position in Astera Labs by 1.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 28,939 shares of the company's stock worth $1,727,000 after acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Trading Up 1.7%

Shares of Astera Labs stock traded up $3.25 on Friday, reaching $191.20. 6,499,017 shares of the company were exchanged, compared to its average volume of 4,540,875. The stock has a fifty day moving average price of $141.64 and a 200-day moving average price of $98.87. The firm has a market capitalization of $31.78 billion, a price-to-earnings ratio of 341.43, a price-to-earnings-growth ratio of 4.77 and a beta of 1.48. Astera Labs, Inc. has a fifty-two week low of $36.85 and a fifty-two week high of $199.47.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share for the quarter, beating 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%.Astera Labs's quarterly revenue was up 149.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 earnings per share. Astera Labs has set its Q3 2025 guidance at 0.380-0.390 EPS. On average, equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research analysts have issued reports on the company. William Blair assumed coverage on Astera Labs in a research report on Thursday, May 22nd. They set an "outperform" rating for the company. CICC Research assumed coverage on Astera Labs in a research report on Friday, August 29th. They set an "outperform" rating and a $190.00 price target for the company. Northland Securities lowered Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price target for the company. in a research report on Tuesday, July 22nd. Barclays reiterated an "overweight" rating and set a $155.00 price target (up previously from $75.00) on shares of Astera Labs in a research report on Thursday, August 7th. Finally, Northland Capmk lowered Astera Labs from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.