Bank of New York Mellon Corp Decreases Stake in Astera Labs, Inc. $ALAB

Key Points

• Bank of New York Mellon trimmed its Astera Labs stake by 2.2% in the fourth quarter, though it still held 501,442 shares worth about $83.4 million at the end of the period.
• Astera Labs reported strong quarterly results, with earnings of $0.61 per share beating estimates and revenue rising 93.5% year over year to $308.36 million.
• Despite some mixed analyst views, the stock has drawn bullish attention overall: 12 analysts rate it Buy, and the consensus price target is $233.75, while the shares recently traded above $346.

Bank of New York Mellon Corp reduced its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 501,442 shares of the company's stock after selling 11,243 shares during the period. Bank of New York Mellon Corp owned about 0.30% of Astera Labs worth $83,420,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ALAB. Vanguard Group Inc. increased its stake in Astera Labs by 14.1% in the 3rd quarter. Vanguard Group Inc. now owns 13,743,141 shares of the company's stock worth $2,690,907,000 after purchasing an additional 1,693,918 shares during the period. Amundi increased its stake in Astera Labs by 1,298.6% in the 3rd quarter. Amundi now owns 1,421,263 shares of the company's stock worth $278,283,000 after purchasing an additional 1,319,643 shares during the period. Rafferty Asset Management LLC purchased a new position in Astera Labs in the 3rd quarter worth approximately $209,599,000. BNP Paribas Financial Markets increased its stake in Astera Labs by 577.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,127,340 shares of the company's stock worth $220,733,000 after purchasing an additional 960,899 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Astera Labs by 189.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,312,927 shares of the company's stock worth $218,419,000 after purchasing an additional 858,693 shares during the period. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Up 9.2%

Shares of ALAB stock opened at $346.33 on Tuesday. The stock has a market cap of $59.36 billion, a price-to-earnings ratio of 234.01, a PEG ratio of 4.20 and a beta of 3.94. The business's fifty day moving average is $217.60 and its 200 day moving average is $173.27. Astera Labs, Inc. has a twelve month low of $84.78 and a twelve month high of $372.37.

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 for the quarter, topping the consensus estimate of $0.54 by $0.07. The company had revenue of $308.36 million for the quarter, compared to analysts' expectations of $292.19 million. Astera Labs had a return on equity of 18.49% and a net margin of 26.72%.The firm's revenue for the quarter was up 93.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. Astera Labs has set its Q2 2026 guidance at 0.680-0.700 EPS. Equities research analysts expect that Astera Labs, Inc. will post 1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 3,505 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $364.35, for a total value of $1,277,046.75. Following the sale, the director directly owned 60,134 shares of the company's stock, valued at approximately $21,909,822.90. The trade was a 5.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 on Thursday, May 21st. The stock was sold at an average price of $290.30, for a total value of $116,120,000.00. Following the completion of the sale, the chief operating officer directly owned 5,064,213 shares in the company, valued at $1,470,141,033.90. This trade represents a 7.32% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 2,321,256 shares of company stock valued at $480,893,146. Company insiders own 10.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on Astera Labs from $205.00 to $280.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Rothschild & Co Redburn initiated coverage on Astera Labs in a research note on Friday, May 1st. They set a "neutral" rating and a $153.00 target price on the stock. Northland Securities cut Astera Labs from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. UBS Group initiated coverage on Astera Labs in a research note on Tuesday, April 21st. They set a "neutral" rating and a $180.00 target price on the stock. Finally, Jefferies Financial Group reissued a "buy" rating and set a $270.00 target price on shares of Astera Labs in a research note on Wednesday, May 6th. Twelve analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $233.75.

Astera Labs Company 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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