Carnegie Investment Counsel Acquires 15,710 Shares of Astera Labs, Inc. $ALAB

Key Points

• Carnegie Investment Counsel increased its Astera Labs stake by 26% in the first quarter, buying 15,710 additional shares and bringing its total holding to 76,119 shares worth about $8.34 million.
• Astera Labs saw significant insider selling, including COO Sanjay Gajendra’s sale of 400,000 shares and Director Manuel Alba’s sale of 136,974 shares, with insiders selling about 2.04 million shares over the past 90 days.
• The company reported strong quarterly results, beating earnings and revenue estimates, while analysts remain split but generally positive, with a consensus rating of “Moderate Buy” and an average price target of $265.75.

Carnegie Investment Counsel boosted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 26.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,119 shares of the company's stock after purchasing an additional 15,710 shares during the quarter. Carnegie Investment Counsel's holdings in Astera Labs were worth $8,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lido Advisors LLC boosted its stake in Astera Labs by 0.5% in the 4th quarter. Lido Advisors LLC now owns 12,297 shares of the company's stock worth $2,046,000 after purchasing an additional 57 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Astera Labs by 6.2% in the fourth quarter. Perigon Wealth Management LLC now owns 1,252 shares of the company's stock worth $208,000 after buying an additional 73 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of Astera Labs by 9.2% during the fourth quarter. Sound Income Strategies LLC now owns 902 shares of the company's stock worth $164,000 after acquiring an additional 76 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Astera Labs by 2.6% during the fourth quarter. Venturi Wealth Management LLC now owns 3,284 shares of the company's stock valued at $546,000 after acquiring an additional 84 shares in the last quarter. Finally, Goldstein Advisors LLC grew its stake in Astera Labs by 5.8% during the fourth quarter. Goldstein Advisors LLC now owns 1,611 shares of the company's stock valued at $268,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 60.47% of the company's stock.

Insider Activity at Astera Labs

In related news, COO Sanjay Gajendra sold 400,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $290.30, for a total value of $116,120,000.00. Following the sale, the chief operating officer directly owned 5,064,213 shares of the company's stock, valued at $1,470,141,033.90. This represents a 7.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Manuel Alba sold 136,974 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $442.01, for a total transaction of $60,543,877.74. Following the completion of the sale, the director directly 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 position. 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 have sold 2,040,691 shares of company stock worth $507,675,380. Insiders own 10.40% of the company's stock.

Astera Labs Stock Performance

ALAB opened at $412.97 on Monday. The firm has a market cap of $70.79 billion, a P/E ratio of 279.03, a P/E/G ratio of 4.65 and a beta of 3.66. The stock has a 50-day moving average of $335.76 and a 200 day moving average of $214.94. Astera Labs, Inc. has a 12 month low of $88.18 and a 12 month high of $499.48.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.07. Astera Labs had a net margin of 26.72% and a return on equity of 18.49%. The business had revenue of $308.36 million for the quarter, compared to analysts' expectations of $292.19 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. The business's revenue 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. On average, research analysts forecast that Astera Labs, Inc. will post 1.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on ALAB shares. Citigroup cut shares of Astera Labs from a "buy" rating to a "market perform" rating in a research note on Tuesday, May 26th. Barclays lifted their target price on Astera Labs from $165.00 to $200.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. TD Cowen boosted their target price on Astera Labs from $140.00 to $225.00 and gave the stock a "hold" rating in a research report on Wednesday, May 6th. Northland Securities lowered Astera Labs from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. increased their price target on Astera Labs from $205.00 to $280.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Twelve investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $265.75.

About Astera Labs

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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