Cannon Global Investment Management LLC Buys Shares of 3,000 Astera Labs, Inc. $ALAB

Key Points

• Cannon Global Investment Management LLC purchased 3,000 shares of Astera Labs, valued at approximately $271,000, during the second quarter.
• Insider transactions included a significant sale of 183,000 shares by Director Manuel Alba, resulting in a 32.17% decrease in his ownership.
• Astera Labs reported a 149.5% year-over-year revenue increase for the last quarter, with quarterly earnings surpassing analysts' estimates.

Cannon Global Investment Management LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,000 shares of the company's stock, valued at approximately $271,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fred Alger Management LLC grew its position in Astera Labs by 13.0% in the first quarter. Fred Alger Management LLC now owns 1,560,033 shares of the company's stock valued at $93,087,000 after acquiring an additional 179,638 shares during the last quarter. Hoey Investments Inc. grew its position in Astera Labs by 22.4% in the second quarter. Hoey Investments Inc. now owns 6,121 shares of the company's stock valued at $553,000 after acquiring an additional 1,121 shares during the last quarter. Wealth Effects LLC bought a new position in Astera Labs in the second quarter valued at about $242,000. Maryland State Retirement & Pension System grew its position in Astera Labs by 37.7% in the second quarter. Maryland State Retirement & Pension System now owns 6,960 shares of the company's stock valued at $629,000 after acquiring an additional 1,906 shares during the last quarter. Finally, Realta Investment Advisors bought a new position in Astera Labs in the second quarter valued at about $214,000. Institutional investors own 60.47% of the company's stock.

Insider Buying and Selling

In other Astera Labs news, Director Manuel Alba sold 183,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $173.27, for a total value of $31,708,410.00. Following the transaction, the director directly owned 385,863 shares of the company's stock, valued at approximately $66,858,482.01. The trade was a 32.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 152,517 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $170.33, for a total value of $25,978,220.61. Following the completion of the transaction, the chief executive officer directly owned 450,001 shares in the company, valued at approximately $76,648,670.33. This trade represents a 25.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,182,514 shares of company stock valued at $202,298,671 over the last 90 days. 12.50% of the stock is currently owned by corporate insiders.

Astera Labs Price Performance

Astera Labs stock opened at $159.80 on Friday. The stock's 50 day moving average is $199.68 and its 200 day moving average is $127.85. The firm has a market cap of $26.56 billion, a P/E ratio of 285.36, a P/E/G ratio of 4.07 and a beta of 1.43. Astera Labs, Inc. has a one year low of $47.13 and a one year high of $262.90.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $191.93 million for the quarter, compared to analyst estimates of $172.46 million. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%.The firm's quarterly revenue was up 149.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 earnings per share. Astera Labs has set its Q3 2025 guidance at 0.380-0.390 EPS. Equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALAB. Bank of America initiated coverage on Astera Labs in a research report on Friday, October 3rd. They issued a "neutral" rating and a $230.00 target price on the stock. Zacks Research cut Astera Labs from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Susquehanna boosted their price target on Astera Labs from $80.00 to $125.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Citigroup boosted their price target on Astera Labs from $160.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Finally, Barclays restated an "overweight" rating and set a $155.00 price target (up from $75.00) on shares of Astera Labs in a report on Thursday, August 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $162.06.

Astera Labs Company Profile

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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