Astera Labs, Inc. $ALAB Shares Purchased by Atreides Management LP

Key Points

• Atreides Management more than doubled its Astera Labs stake in the first quarter, adding 1.75 million shares to own 3.37 million shares worth approximately $368.9 million. The position represents 7.4% of its portfolio and about 1.96% of Astera Labs.
• Analyst sentiment remains favorable, with 12 Buy ratings and 11 Holds producing a consensus “Moderate Buy” rating and an average price target of $282. Recent target changes ranged from $153 at Rothschild & Co Redburn to $425 at TD Cowen.
• Astera Labs reported first-quarter earnings and revenue above expectations, with EPS of $0.61 and revenue of $308.4 million, up 93.5% year over year. However, insiders have sold $444.9 million of stock over the past three months, while shares opened at $260.23 after trading as high as $499.48 over the past year.

Atreides Management LP grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 108.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,365,787 shares of the company's stock after acquiring an additional 1,754,593 shares during the quarter. Astera Labs accounts for about 7.4% of Atreides Management LP's investment portfolio, making the stock its largest holding. Atreides Management LP owned about 1.96% of Astera Labs worth $368,890,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. acquired a new position in Astera Labs during the fourth quarter worth $18,708,000. Swedbank AB raised its holdings in Astera Labs by 76.8% during the fourth quarter. Swedbank AB now owns 78,140 shares of the company's stock worth $12,999,000 after acquiring an additional 33,940 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Astera Labs in the fourth quarter valued at approximately $499,000. Revere Asset Management Inc acquired a new position in shares of Astera Labs during the 4th quarter worth approximately $589,000. Finally, Banque Cantonale Vaudoise raised its stake in shares of Astera Labs by 85.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,990 shares of the company's stock worth $766,000 after purchasing an additional 3,229 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALAB. Morgan Stanley raised their target price on shares of Astera Labs from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Rothschild & Co Redburn assumed coverage on shares of Astera Labs in a research report on Friday, May 1st. They issued a "neutral" rating and a $153.00 price objective for the company. Weiss Ratings upgraded shares of Astera Labs from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. TD Cowen upped their target price on shares of Astera Labs from $225.00 to $425.00 and gave the company a "hold" rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. raised their target price on shares of Astera Labs from $205.00 to $280.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, Astera Labs currently has a consensus rating of "Moderate Buy" and an average price target of $282.00.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 10,000 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $355.17, for a total transaction of $3,551,700.00. Following the completion of the transaction, the director owned 75,688 shares of the company's stock, valued at approximately $26,882,106.96. The trade was a 11.67% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel Alba sold 8,491 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $458.38, for a total transaction of $3,892,104.58. Following the completion of the transaction, the director directly owned 286,863 shares of the company's stock, valued at $131,492,261.94. This trade represents a 2.87% 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. Insiders have sold a total of 1,676,845 shares of company stock worth $444,928,806 in the last three months. Company insiders own 10.40% of the company's stock.

Astera Labs Stock Down 7.9%

Shares of NASDAQ:ALAB opened at $260.23 on Wednesday. Astera Labs, Inc. has a 12-month low of $97.89 and a 12-month high of $499.48. The company's 50 day moving average price is $360.60 and its two-hundred day moving average price is $227.59. The firm has a market cap of $44.61 billion, a PE ratio of 175.83, a PEG ratio of 3.27 and a beta of 3.66.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.07. Astera Labs had a return on equity of 18.49% and a net margin of 26.72%.The business had revenue of $308.36 million during the quarter, compared to analysts' expectations of $292.19 million. During the same period in the previous year, the company posted $0.33 earnings per share. The firm'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, research analysts expect that Astera Labs, Inc. will post 1.86 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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