Astera Labs, Inc. $ALAB Shares Acquired by US Bancorp DE

Key Points

• US Bancorp DE increased its holdings in Astera Labs by 222.8% in Q2, now owning nearly 10,000 shares valued at $902,000.
• Astera Labs reported $0.44 earnings per share, exceeding analysts' expectations of $0.33, with revenue up 149.5% year-over-year at $191.93 million.
• Insider selling activity included COO Sanjay Gajendra selling 280,000 shares for about $47.6 million, representing a 4.82% decrease in his ownership stake.

US Bancorp DE increased its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 222.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,978 shares of the company's stock after acquiring an additional 6,887 shares during the quarter. US Bancorp DE's holdings in Astera Labs were worth $902,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Astera Labs by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 9,297,476 shares of the company's stock worth $554,780,000 after purchasing an additional 85,846 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Astera Labs by 114.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company's stock worth $501,289,000 after purchasing an additional 4,478,741 shares during the last quarter. Atreides Management LP lifted its holdings in shares of Astera Labs by 153.3% during the 1st quarter. Atreides Management LP now owns 4,652,264 shares of the company's stock worth $277,601,000 after acquiring an additional 2,815,614 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Astera Labs by 13.0% during the 1st quarter. Fred Alger Management LLC now owns 1,560,033 shares of the company's stock worth $93,087,000 after acquiring an additional 179,638 shares during the period. Finally, FengHe Fund Management Pte. Ltd. acquired a new position in Astera Labs during the second quarter valued at approximately $106,772,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $159.80 on Friday. The stock has a market cap of $26.56 billion, a price-to-earnings ratio of 285.36, a PEG ratio of 4.07 and a beta of 1.43. The business has a 50 day simple moving average of $199.68 and a 200 day simple moving average of $127.85. Astera Labs, Inc. has a 52 week low of $47.13 and a 52 week high of $262.90.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The firm had revenue of $191.93 million during the quarter, compared to analysts' expectations of $172.46 million. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%.The company's revenue was up 149.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Astera Labs has set its Q3 2025 guidance at 0.380-0.390 EPS. On average, analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In related news, COO Sanjay Gajendra sold 280,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief operating officer directly owned 5,525,545 shares in the company, valued at approximately $939,453,160.90. This represents 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 this hyperlink. Also, CFO Michael Truett Tate sold 100,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at $88,945,534.48. The trade was a 16.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,182,514 shares of company stock valued at $202,298,671. 12.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. CICC Research assumed coverage on shares of Astera Labs in a research note on Friday, August 29th. They set an "outperform" rating and a $190.00 price objective on the stock. TD Cowen initiated coverage on shares of Astera Labs in a report on Wednesday, October 1st. They issued a "hold" rating and a $200.00 price objective for the company. Northland Securities downgraded shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price target for the company. in a report on Tuesday, July 22nd. Needham & Company LLC upped their price objective on shares of Astera Labs from $100.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Finally, Bank of America began coverage on shares of Astera Labs in a research report on Friday, October 3rd. They issued a "neutral" rating and a $230.00 price target on the stock. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $162.06.

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.

Want to see what other hedge funds are holding ALAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astera Labs, Inc. (NASDAQ:ALAB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.