Astera Labs, Inc. $ALAB is Peregrine Investment Management Inc.'s 2nd Largest Position

Key Points

• Peregrine Investment Management Inc. has reduced its holdings in Astera Labs by 2.6%, making the company its second largest position, accounting for about 8.4% of its portfolio.
• Astera Labs reported earnings of $0.44 per share, exceeding expectations, with revenues of $191.93 million, reflecting a year-over-year increase of 149.5%.
• Insider sales included significant transactions from Director Manuel Alba and CEO Jitendra Mohan, collectively totaling over $57 million in shares sold.

Peregrine Investment Management Inc. cut its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 146,040 shares of the company's stock after selling 3,960 shares during the quarter. Astera Labs accounts for about 8.4% of Peregrine Investment Management Inc.'s portfolio, making the stock its 2nd largest holding. Peregrine Investment Management Inc. owned about 0.09% of Astera Labs worth $13,205,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Sheets Smith Wealth Management purchased a new position in Astera Labs during the 2nd quarter worth approximately $481,000. Hoey Investments Inc. increased its holdings in shares of Astera Labs by 22.4% during the 2nd quarter. Hoey Investments Inc. now owns 6,121 shares of the company's stock valued at $553,000 after purchasing an additional 1,121 shares in the last quarter. Chapin Davis Inc. purchased a new position in shares of Astera Labs during the 2nd quarter valued at approximately $1,035,000. Wealth Management Partners LLC increased its holdings in shares of Astera Labs by 120.1% during the 2nd quarter. Wealth Management Partners LLC now owns 26,369 shares of the company's stock valued at $2,363,000 after purchasing an additional 14,388 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Astera Labs by 35.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,741 shares of the company's stock valued at $157,000 after purchasing an additional 457 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Trading Down 3.0%

Shares of ALAB stock opened at $230.11 on Wednesday. The company's 50-day moving average price is $175.65 and its 200-day moving average price is $112.14. The stock has a market cap of $38.25 billion, a price-to-earnings ratio of 410.91, a PEG ratio of 6.02 and a beta of 1.48. Astera Labs, Inc. has a twelve month low of $47.13 and a twelve month high of $262.90.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced 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 analysts' expectations of $172.46 million. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The company's revenue was up 149.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. Astera Labs has set its Q3 2025 guidance at 0.380-0.390 EPS. As a group, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

ALAB has been the subject of several recent research reports. Northland Capmk lowered shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 22nd. Citigroup lifted their target price on shares of Astera Labs from $160.00 to $275.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Wall Street Zen raised shares of Astera Labs from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Needham & Company LLC lifted their target price on shares of Astera Labs from $100.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley lifted their target price on shares of Astera Labs from $155.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $152.94.

Insider Activity

In related news, Director Manuel Alba sold 183,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $173.27, for a total value of $31,708,410.00. Following the sale, the director directly owned 385,863 shares in the company, valued at approximately $66,858,482.01. The trade was a 32.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jitendra Mohan sold 152,517 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $170.33, for a total transaction of $25,978,220.61. Following the completion of the sale, the chief executive officer owned 450,001 shares in the company, valued at approximately $76,648,670.33. This trade represents a 25.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,576,027 shares of company stock worth $239,177,011. 12.50% of the stock is owned by insiders.

Astera Labs Profile

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.

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