Astera Labs, Inc. $ALAB Shares Acquired by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC increased its Astera Labs stake by 25.5% in the fourth quarter, buying 393,250 more shares and bringing its total to 1.93 million shares worth about $321.9 million.
• Several other major institutional investors also boosted their positions, and institutions and hedge funds now own 60.47% of Astera Labs’ stock.
• Insiders have been selling shares recently, including two directors in June; over the last quarter, insiders sold 2.16 million shares worth about $459.8 million.

Fred Alger Management LLC boosted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 25.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,934,688 shares of the company's stock after purchasing an additional 393,250 shares during the period. Astera Labs makes up approximately 1.3% of Fred Alger Management LLC's holdings, making the stock its 15th biggest position. Fred Alger Management LLC owned about 1.15% of Astera Labs worth $321,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Astera Labs by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 13,827,506 shares of the company's stock valued at $2,300,344,000 after purchasing an additional 84,365 shares during the last quarter. State Street Corp lifted its stake in Astera Labs by 32.5% during the fourth quarter. State Street Corp now owns 3,099,809 shares of the company's stock valued at $515,684,000 after purchasing an additional 760,358 shares during the last quarter. Geode Capital Management LLC lifted its stake in Astera Labs by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 2,429,078 shares of the company's stock valued at $403,598,000 after purchasing an additional 104,935 shares during the last quarter. Morgan Stanley lifted its stake in Astera Labs by 33.0% during the fourth quarter. Morgan Stanley now owns 1,934,467 shares of the company's stock valued at $321,818,000 after purchasing an additional 480,009 shares during the last quarter. Finally, Amundi raised its holdings in shares of Astera Labs by 1,298.6% during the third quarter. Amundi now owns 1,421,263 shares of the company's stock valued at $278,283,000 after acquiring an additional 1,319,643 shares during the period. 60.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Astera Labs news, Director Jack R. Lazar sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $355.17, for a total value of $3,551,700.00. Following the completion of the sale, the director owned 75,688 shares in the company, valued at $26,882,106.96. This represents a 11.67% decrease in their position. The transaction was disclosed in a 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, Director Stefan A. Dyckerhoff sold 3,505 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $364.35, for a total transaction of $1,277,046.75. Following the completion of the sale, the director owned 60,134 shares of the company's stock, valued at approximately $21,909,822.90. The trade was a 5.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 2,161,256 shares of company stock worth $459,844,296. Insiders own 10.40% of the company's stock.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Astera Labs from $205.00 to $280.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. UBS Group initiated coverage on shares of Astera Labs in a report on Tuesday, April 21st. They set a "neutral" rating and a $180.00 price target on the stock. Jefferies Financial Group restated a "buy" rating and set a $270.00 price target on shares of Astera Labs in a report on Wednesday, May 6th. Citigroup lowered shares of Astera Labs from a "buy" rating to a "market perform" rating in a report on Tuesday, May 26th. Finally, Loop Capital initiated coverage on shares of Astera Labs in a report on Thursday, March 5th. They set a "buy" rating and a $250.00 price target on the stock. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $233.75.

Astera Labs Stock Down 7.1%

ALAB stock opened at $361.71 on Wednesday. Astera Labs, Inc. has a 12-month low of $84.78 and a 12-month high of $398.13. The company has a market cap of $62.00 billion, a price-to-earnings ratio of 244.40, a PEG ratio of 5.15 and a beta of 3.94. The company has a 50 day moving average of $247.50 and a two-hundred day moving average of $182.34.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.07. Astera Labs had a net margin of 26.72% and a return on equity of 18.49%. The company had revenue of $308.36 million during the quarter, compared to the consensus estimate of $292.19 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company's revenue was up 93.5% compared to the same quarter last year. Astera Labs has set its Q2 2026 guidance at 0.680-0.700 EPS. On average, research analysts anticipate that Astera Labs, Inc. will post 1.84 EPS for the current year.

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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