Bank of New York Mellon Corp Makes New $241.03 Million Investment in Astera Labs, Inc. $ALAB

Bank of New York Mellon Corp bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 498,996 shares of the company's stock, valued at approximately $241,025,000. Bank of New York Mellon Corp owned 0.29% of Astera Labs at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Astera Labs during the fourth quarter worth $18,708,000. Swedbank AB raised its stake in shares of Astera Labs by 76.8% in the 4th quarter. Swedbank AB now owns 78,140 shares of the company's stock valued at $12,999,000 after purchasing an additional 33,940 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new stake in shares of Astera Labs in the 4th quarter valued at about $499,000. Revere Asset Management Inc bought a new stake in shares of Astera Labs in the fourth quarter valued at about $589,000. Finally, Banque Cantonale Vaudoise boosted its position in shares of Astera Labs by 85.9% during the first quarter. Banque Cantonale Vaudoise now owns 6,990 shares of the company's stock worth $766,000 after buying an additional 3,229 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Astera Labs

In related news, Director Jack R. Lazar sold 10,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director directly 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 position. The transaction 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, COO Sanjay Gajendra sold 90,630 shares of the stock in a transaction on Monday, August 17th. The shares were 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 operating officer owned 1,119,038 shares in the company, valued at approximately $380,864,583.30. This trade represents a 7.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 419,244 shares of company stock worth $163,135,169 in the last three months. 10.40% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALAB. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $350.00 target price on the stock in a research report on Monday, August 17th. Citigroup reaffirmed a "buy" rating on shares of Astera Labs in a research note on Wednesday, July 29th. Morgan Stanley lifted their price objective on shares of Astera Labs to $335.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Rothschild & Co Redburn began 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 on the stock. Finally, Zacks Research upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $333.00.

Astera Labs Price Performance

Shares of ALAB stock opened at $284.97 on Friday. The company has a fifty day moving average price of $352.70 and a two-hundred day moving average price of $244.92. Astera Labs, Inc. has a one year low of $97.89 and a one year high of $499.48. The stock has a market cap of $49.44 billion, a P/E ratio of 141.07 and a beta of 3.84.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its 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. 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 firm earned $0.44 EPS. Astera Labs's quarterly revenue 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. As a group, equities research analysts anticipate that Astera Labs, Inc. will post 2.7 EPS for the current fiscal year.

Astera Labs 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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