Astera Labs, Inc. $ALAB Stock Sold by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors reduced its Astera Labs stake by 13.5% in the third quarter, selling 24,185 shares and retaining 154,723 shares worth approximately $55.1 million. Institutional investors collectively own 60.47% of ALAB.
• Astera Labs reported stronger-than-expected quarterly results, with EPS of $0.80 versus the $0.69 consensus and revenue of $392.4 million, up 104.5% year over year.
• Analyst sentiment remains positive but mixed, with a “Moderate Buy” consensus and an average price target of $348.33; insiders have sold $127.3 million worth of shares over the past 90 days.

Salem Investment Counselors Inc. trimmed its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 13.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,723 shares of the company's stock after selling 24,185 shares during the period. Astera Labs makes up about 1.3% of Salem Investment Counselors Inc.'s portfolio, making the stock its 18th largest holding. Salem Investment Counselors Inc. owned 0.09% of Astera Labs worth $55,077,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALAB. Reflection Asset Management bought a new stake in shares of Astera Labs in the 4th quarter worth $25,000. Keating Financial Advisory Services Inc. bought a new position in Astera Labs during the second quarter valued at about $25,000. GK Wealth Management LLC bought a new position in Astera Labs during the third quarter valued at about $29,000. Archer Investment Corp bought a new position in Astera Labs during the second quarter valued at about $30,000. Finally, Whipplewood Advisors LLC grew its holdings in Astera Labs by 15,950.0% during the first quarter. Whipplewood Advisors LLC now owns 321 shares of the company's stock worth $35,000 after acquiring an additional 319 shares during the period. 60.47% of the stock is owned by institutional investors.

Astera Labs Price Performance

Shares of ALAB opened at $325.41 on Wednesday. The company has a 50-day moving average of $316.78 and a two-hundred day moving average of $294.44. The stock has a market cap of $56.46 billion, a price-to-earnings ratio of 161.09 and a beta of 3.68. Astera Labs, Inc. has a one year low of $97.89 and a one year high of $499.48.

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

Insider Activity

In other news, General Counsel Philip Mazzara sold 6,801 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $340.50, for a total value of $2,315,740.50. Following the completion of the sale, the general counsel owned 96,542 shares of the company's stock, valued at $32,872,551. This trade represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Manuel Alba sold 183,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $280.13, for a total value of $51,263,790.00. Following the completion of the sale, the director directly owned 253,863 shares of the company's stock, valued at approximately $71,114,642.19. This trade represents a 41.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 408,558 shares of company stock worth $127,306,034. 10.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Astera Labs to $335.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Northland Securities lowered shares of Astera Labs from an "outperform" rating to a "market perform" rating in a research report on Friday, October 9th. Barclays lifted their price objective on shares of Astera Labs from $200.00 to $325.00 and gave the stock an "equal weight" rating in a research note on Monday, July 20th. Citigroup downgraded shares of Astera Labs from a "buy" rating to a "hold" rating in a report on Friday. Finally, Jefferies Financial Group boosted their target price on shares of Astera Labs from $270.00 to $450.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $348.33.

About Astera Labs

Astera Labs, Inc is a fabless semiconductor company that develops connectivity solutions for cloud and artificial intelligence infrastructure. Its products are designed to help data centers connect and manage processors, memory, storage, and networking components in high-performance computing systems.

The company's portfolio includes Aries PCI Express and Compute Express Link (CXL) smart memory controllers, Scorpio PCIe switches, Taurus Ethernet fabric switches, and Leo CXL memory connectivity products.

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