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

Key Points

• Peregrine Investment Management cut its Astera Labs stake by 29.7% in the fourth quarter, but the stock still remains its 2nd-largest position and about 7% of the portfolio.
• Astera Labs reported a strong quarter, with EPS of $0.61 beating estimates and revenue of $308.36 million topping forecasts; revenue also surged 93.5% year over year.
• Analyst sentiment remains bullish overall, with multiple firms raising price targets and a consensus rating of Moderate Buy at an average target of $229.65, though recent insider sales and some institutional trimming have weighed on sentiment.

Peregrine Investment Management Inc. lowered its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 29.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,220 shares of the company's stock after selling 28,850 shares during the quarter. Astera Labs makes up approximately 7.0% of Peregrine Investment Management Inc.'s portfolio, making the stock its 2nd biggest position. Peregrine Investment Management Inc.'s holdings in Astera Labs were worth $11,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Pier 88 Investment Partners LLC boosted its stake in Astera Labs by 8.7% in the fourth quarter. Pier 88 Investment Partners LLC now owns 3,260 shares of the company's stock worth $542,000 after buying an additional 260 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs purchased a new stake in Astera Labs in the fourth quarter worth approximately $1,257,000. Swiss Life Asset Management Ltd boosted its stake in Astera Labs by 48.3% in the fourth quarter. Swiss Life Asset Management Ltd now owns 8,978 shares of the company's stock worth $1,494,000 after buying an additional 2,926 shares in the last quarter. Nwam LLC boosted its stake in Astera Labs by 68.3% in the fourth quarter. Nwam LLC now owns 3,013 shares of the company's stock worth $492,000 after buying an additional 1,223 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its stake in Astera Labs by 91.4% in the fourth quarter. Plato Investment Management Ltd now owns 1,665 shares of the company's stock worth $278,000 after buying an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $204.42 on Wednesday. The firm has a market cap of $35.04 billion, a PE ratio of 138.12, a price-to-earnings-growth ratio of 3.42 and a beta of 3.35. Astera Labs, Inc. has a fifty-two week low of $81.14 and a fifty-two week high of $262.90. The business has a 50 day moving average price of $148.57 and a 200-day moving average price of $155.00.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.07. The firm had revenue of $308.36 million during the quarter, compared to analyst estimates of $292.19 million. Astera Labs had a return on equity of 18.49% and a net margin of 26.72%.The business's quarterly revenue was up 93.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Astera Labs has set its Q2 2026 guidance at 0.680-0.700 EPS. Research analysts predict that Astera Labs, Inc. will post 1.48 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on ALAB. Jefferies Financial Group reaffirmed a "buy" rating and issued a $270.00 target price on shares of Astera Labs in a research note on Wednesday, May 6th. Morgan Stanley upped their target price on Astera Labs from $210.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Stifel Nicolaus upped their target price on Astera Labs from $236.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their target price on Astera Labs from $250.00 to $270.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 6th. Finally, TD Cowen upped their target price on Astera Labs from $140.00 to $225.00 and gave the stock a "hold" rating in a research note on Wednesday, May 6th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $229.65.

Trending Headlines about Astera Labs

Here are the key news stories impacting Astera Labs this week:

• Positive Sentiment: Astera Labs was highlighted as a company that could help solve a major AI infrastructure bottleneck, reinforcing its role in high-speed connectivity for AI data centers. Astera Labs (ALAB) Touted To Solve Big AI Bottleneck
• Positive Sentiment: Zacks said demand remains strong for Astera Labs’ Scorpio portfolio, which already contributes more than one-third of revenue and could become the company’s largest product line by 2026. Astera Labs Rides on Strong Scorpio Portfolio: What Lies Ahead?
• Positive Sentiment: Needham raised its price target to $260 from $220 and kept a Buy rating, citing another strong beat-and-raise quarter, which supports bullish sentiment around ALAB. Is Astera Labs. (ALAB) the Best American Semiconductor Stock to Buy According to Analysts?
• Positive Sentiment: The stock was also featured as a potential beneficiary of the AI inference boom, keeping attention on Astera Labs’ growth tied to AI spending. 5 Stocks Positioned to Benefit From the AI Inference Boom (ALAB)
• Neutral Sentiment: Astera Labs announced participation in several upcoming financial conferences, which is a routine investor-relations update and not a major fundamental catalyst. Astera Labs Announces Second Quarter 2026 Financial Conference Participation
• Negative Sentiment: CEO Jitendra Mohan, COO Sanjay Gajendra, and director Stefan A. Dyckerhoff all sold shares in recent pre-arranged 10b5-1 transactions, which can pressure sentiment even though the sales were scheduled in advance. Astera Labs NASDAQ: ALAB CEO Jitendra Mohan Sells 139,951 Shares of Stock
• Negative Sentiment: Artisan Mid Cap Fund reduced its holdings in Astera Labs, adding another sign of institutional profit-taking or caution after the stock’s strong run. Here’s Why Artisan Mid Cap Fund Reduced Its Holdings in Astera Labs (ALAB)

Insiders Place Their Bets

In related news, COO Sanjay Gajendra sold 230,639 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $198.22, for a total transaction of $45,717,262.58. Following the completion of the transaction, the chief operating officer owned 664,361 shares in the company, valued at $131,689,637.42. This represents a 25.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael Truett Tate sold 12,001 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $123.81, for a total value of $1,485,843.81. Following the transaction, the chief financial officer owned 192,083 shares of the company's stock, valued at approximately $23,781,796.23. This represents a 5.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,497,338 shares of company stock worth $236,827,957 in the last ninety days. Insiders own 12.50% 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.

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