Astera Labs, Inc. $ALAB Shares Sold by Truist Financial Corp

Key Points

• Truist Financial Corp has reduced its position in Astera Labs by 26.2%, selling 3,360 shares during the second quarter, leaving them with 9,477 shares valued at $857,000.
• Astera Labs' CEO and COO both sold 91,441 shares each on August 18th, resulting in a 4.04% decrease in their ownership, with each maintaining stakes valued at around $398 million.
• According to several analysts, Astera Labs recently received multiple upgrades on its price targets, with estimates ranging from $125 to $275, reflecting a consensus rating of "Moderate Buy".

Truist Financial Corp reduced its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 26.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,477 shares of the company's stock after selling 3,360 shares during the period. Truist Financial Corp's holdings in Astera Labs were worth $857,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ALAB. Oliver Lagore Vanvalin Investment Group acquired a new position in Astera Labs during the second quarter worth about $29,000. Sound Income Strategies LLC grew its holdings in Astera Labs by 34.7% during the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after acquiring an additional 204 shares during the period. GAMMA Investing LLC grew its holdings in Astera Labs by 55.7% during the first quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after acquiring an additional 284 shares during the period. Harbour Investments Inc. grew its holdings in Astera Labs by 351.7% during the first quarter. Harbour Investments Inc. now owns 795 shares of the company's stock worth $47,000 after acquiring an additional 619 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Astera Labs during the first quarter worth about $48,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Astera Labs news, CEO Jitendra Mohan sold 91,441 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $183.51, for a total transaction of $16,780,337.91. Following the completion of the sale, the chief executive officer owned 2,170,877 shares of the company's stock, valued at $398,377,638.27. This represents a 4.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sanjay Gajendra sold 91,441 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $183.51, for a total value of $16,780,337.91. Following the sale, the chief operating officer directly owned 2,170,877 shares of the company's stock, valued at $398,377,638.27. The trade was a 4.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,308,772 shares of company stock valued at $214,482,678. Insiders own 12.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ALAB shares. Susquehanna lifted their price target on Astera Labs from $80.00 to $125.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Morgan Stanley upped their price target on shares of Astera Labs from $155.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Needham & Company LLC upped their price target on shares of Astera Labs from $100.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Citigroup upped their price target on shares of Astera Labs from $160.00 to $275.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Astera Labs in a research report on Wednesday, October 8th. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.83.

Astera Labs Stock Down 3.2%

Shares of Astera Labs stock opened at $199.53 on Tuesday. The stock has a market capitalization of $33.17 billion, a P/E ratio of 356.30, a PEG ratio of 5.14 and a beta of 1.43. The stock has a 50 day moving average price of $199.95 and a two-hundred day moving average price of $125.97. Astera Labs, Inc. has a 12-month low of $47.13 and a 12-month 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. Sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.

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