Astera Labs, Inc. $ALAB Shares Bought by Prudential PLC

Key Points

• Prudential PLC increased its stake in Astera Labs by 51.7% in the fourth quarter, ending with 62,790 shares valued at about $10.45 million.
• Astera Labs reported better-than-expected quarterly results, with EPS of $0.61 and revenue of $308.36 million, both topping Wall Street estimates. Revenue surged 93.5% from the same quarter last year.
• Despite the strong results, the stock was down 11.4% in the session, while analysts remain mixed overall with a consensus rating of “Moderate Buy” and an average price target of $233.75.

Prudential PLC grew its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 51.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,790 shares of the company's stock after acquiring an additional 21,390 shares during the quarter. Prudential PLC's holdings in Astera Labs were worth $10,446,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Lido Advisors LLC boosted its holdings in shares of Astera Labs by 0.5% during the fourth quarter. Lido Advisors LLC now owns 12,297 shares of the company's stock valued at $2,046,000 after acquiring an additional 57 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Astera Labs by 6.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,252 shares of the company's stock valued at $208,000 after acquiring an additional 73 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of Astera Labs by 13.6% during the third quarter. Clearstead Advisors LLC now owns 636 shares of the company's stock valued at $125,000 after acquiring an additional 76 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Astera Labs by 9.2% during the fourth quarter. Sound Income Strategies LLC now owns 902 shares of the company's stock valued at $164,000 after acquiring an additional 76 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Astera Labs by 2.6% during the fourth quarter. Venturi Wealth Management LLC now owns 3,284 shares of the company's stock valued at $546,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Stock Down 11.4%

Shares of ALAB opened at $317.06 on Friday. The firm has a 50-day moving average price of $212.95 and a 200 day moving average price of $171.60. Astera Labs, Inc. has a 52-week low of $84.78 and a 52-week high of $372.37. The firm has a market capitalization of $54.35 billion, a PE ratio of 214.23, a P/E/G ratio of 4.74 and a beta of 3.95.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.54 by $0.07. Astera Labs had a net margin of 26.72% and a return on equity of 18.49%. The firm had revenue of $308.36 million for the quarter, compared to analysts' expectations of $292.19 million. During the same period in the previous year, the business earned $0.33 earnings per share. Astera Labs's revenue for the quarter 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, equities analysts expect that Astera Labs, Inc. will post 1.84 EPS for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 28,737 shares of the business's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $249.62, for a total value of $7,173,329.94. Following the sale, the chief executive officer directly owned 3,789,232 shares in the company, valued at approximately $945,868,091.84. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Sanjay Gajendra sold 400,000 shares of the business's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $290.30, for a total transaction of $116,120,000.00. Following the completion of the sale, the chief operating officer owned 5,064,213 shares in the company, valued at approximately $1,470,141,033.90. This trade represents a 7.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,311,256 shares of company stock valued at $477,341,446 in the last ninety days. 10.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALAB shares. Loop Capital started coverage on shares of Astera Labs in a report on Thursday, March 5th. They issued a "buy" rating and a $250.00 price objective for the company. Needham & Company LLC increased their target price on shares of Astera Labs from $220.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Roth Mkm reiterated a "buy" rating and issued a $275.00 target price on shares of Astera Labs in a research report on Wednesday, May 6th. Citigroup lowered shares of Astera Labs from a "buy" rating to a "market perform" rating in a research report on Tuesday, May 26th. Finally, TD Cowen increased their target price on shares of Astera Labs from $140.00 to $225.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $233.75.

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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