Astera Labs, Inc. $ALAB Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Astera Labs stake by 886.9% in the third quarter, adding 67,172 shares for a total holding of 74,746 shares valued at $26.6 million. Institutional investors collectively own 60.47% of ALAB.
• Analysts maintain a positive outlook, with 11 Buy ratings and 10 Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $348.33. Recent targets range from $425 to $500.
• Astera Labs reported quarterly earnings of $0.80 per share versus the $0.69 consensus estimate, while revenue rose 104.5% year over year to $392.4 million. However, insiders sold 408,558 shares worth approximately $127.3 million during the quarter.

Assenagon Asset Management S.A. increased its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 886.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,746 shares of the company's stock after purchasing an additional 67,172 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Astera Labs were worth $26,607,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ALAB. Reflection Asset Management bought a new stake in shares of Astera Labs during the fourth quarter valued at about $25,000. Keating Financial Advisory Services Inc. bought a new position in shares of Astera Labs in the second quarter valued at approximately $25,000. GK Wealth Management LLC bought a new position in shares of Astera Labs in the third quarter valued at approximately $29,000. Archer Investment Corp bought a new position in shares of Astera Labs in the second quarter valued at approximately $30,000. Finally, Whipplewood Advisors LLC grew its stake in Astera Labs by 15,950.0% during the first quarter. Whipplewood Advisors LLC now owns 321 shares of the company's stock valued at $35,000 after acquiring an additional 319 shares in the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALAB has been the topic of a number of analyst reports. Needham & Company LLC upped their target price on shares of Astera Labs from $260.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. UBS Group reissued a "neutral" rating and issued a $425.00 price target on shares of Astera Labs in a report on Wednesday, August 5th. Royal Bank Of Canada boosted their price target on shares of Astera Labs from $425.00 to $500.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Stifel Nicolaus boosted their price target on shares of Astera Labs from $260.00 to $460.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $450.00 price target on shares of Astera Labs in a report on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $348.33.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $285.82 on Monday. Astera Labs, Inc. has a 12 month low of $97.89 and a 12 month high of $499.48. The firm has a market capitalization of $49.59 billion, a price-to-earnings ratio of 141.50 and a beta of 3.68. The business has a 50-day moving average of $314.86 and a 200-day moving average of $298.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.11. Astera Labs had a net margin of 30.74% and a return on equity of 19.24%. The company had revenue of $392.40 million for the quarter, compared to analysts' expectations of $360.85 million. During the same period in the prior year, the business earned $0.44 earnings per share. Astera Labs's revenue for the quarter was up 104.5% compared to the same quarter last year. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. On average, analysts predict that Astera Labs, Inc. will post 2.70 earnings per share for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 90,630 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $340.35, for a total value of $30,845,920.50. Following the completion of the sale, the chief executive officer owned 1,266,665 shares of the company's stock, valued at $431,109,432.75. This represents a 6.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stefan A. Dyckerhoff sold 8,994 shares of the company's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $274.96, for a total value of $2,472,990.24. Following the completion of the sale, the director directly owned 3,309 shares of the company's stock, valued at approximately $909,842.64. This represents a 73.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 408,558 shares of company stock worth $127,306,034 in the last quarter. 10.40% of the stock is owned by company insiders.

Astera Labs Profile

Astera Labs, Inc is a semiconductor and connectivity solutions company that develops hardware and software for data centers, cloud computing, and artificial intelligence infrastructure. Its products are designed to help move data between processors, memory, storage, and networking components while addressing bandwidth, latency, and system-management requirements.

The company's portfolio includes Aries PCI Express and Compute Express Link (CXL) Smart Retimers, Taurus Ethernet Smart Cable Modules, Scorpio Smart Fabric Switches, and Leo CXL Memory Connectivity Controllers.

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