Candriam S.C.A. Sells 23,838 Shares of Astera Labs, Inc. $ALAB

Candriam S.C.A. cut its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 40.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,742 shares of the company's stock after selling 23,838 shares during the quarter. Candriam S.C.A.'s holdings in Astera Labs were worth $3,917,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Astera Labs by 167.3% during the 1st quarter. Royal Bank of Canada now owns 152,453 shares of the company's stock worth $9,097,000 after purchasing an additional 95,409 shares during the last quarter. AQR Capital Management LLC grew its holdings in Astera Labs by 213.4% during the first quarter. AQR Capital Management LLC now owns 11,391 shares of the company's stock worth $680,000 after purchasing an additional 7,756 shares during the period. Empowered Funds LLC grew its holdings in Astera Labs by 917.3% during the first quarter. Empowered Funds LLC now owns 4,639 shares of the company's stock worth $277,000 after purchasing an additional 4,183 shares during the period. First Trust Advisors LP grew its holdings in Astera Labs by 102.0% during the second quarter. First Trust Advisors LP now owns 112,766 shares of the company's stock worth $10,196,000 after purchasing an additional 56,952 shares during the period. Finally, Brown Advisory Inc. increased its position in Astera Labs by 54.9% during the second quarter. Brown Advisory Inc. now owns 5,581 shares of the company's stock worth $505,000 after buying an additional 1,977 shares during the last quarter. 60.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Northland Securities lowered Astera Labs from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 26th. Bank of America lifted their price objective on shares of Astera Labs from $240.00 to $450.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $205.00 to $280.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Susquehanna increased their price objective on shares of Astera Labs from $155.00 to $230.00 and gave the company a "neutral" rating in a research report on Wednesday, May 6th. Finally, Barclays raised their target price on shares of Astera Labs from $165.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Twelve research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $275.75.

Insider Buying and Selling

In other news, COO Sanjay Gajendra sold 400,000 shares of Astera Labs stock in a transaction dated 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 transaction, the chief operating officer directly owned 5,064,213 shares of the company's stock, valued at approximately $1,470,141,033.90. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel Alba sold 136,974 shares of Astera Labs stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $442.01, for a total value of $60,543,877.74. Following the completion of the sale, the director owned 1,287,524 shares of the company's stock, valued at approximately $569,098,483.24. The trade was a 9.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,040,691 shares of company stock valued at $507,675,380 over the last quarter. Insiders own 10.40% of the company's stock.

Astera Labs Trading Down 12.3%

ALAB stock opened at $362.05 on Tuesday. The firm has a 50-day moving average price of $339.10 and a 200-day moving average price of $216.30. Astera Labs, Inc. has a 12 month low of $88.18 and a 12 month high of $499.48. The stock has a market capitalization of $62.06 billion, a P/E ratio of 244.63, a price-to-earnings-growth ratio of 4.65 and a beta of 3.66.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.07. Astera Labs had a net margin of 26.72% and a return on equity of 18.49%. The company had revenue of $308.36 million during the quarter, compared to the consensus estimate of $292.19 million. During the same period in the prior year, the business earned $0.33 earnings per share. The company'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. As a group, equities analysts predict that Astera Labs, Inc. will post 1.88 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.