Counterpoint Mutual Funds LLC Buys 9,870 Shares of Astera Labs, Inc. $ALAB

Key Points

• Counterpoint Mutual Funds increased its Astera Labs stake by 42.8%, purchasing 9,870 shares to hold 32,947 shares valued at approximately $11.7 million. Institutional investors and hedge funds collectively own 60.47% of the company.
• Astera Labs insiders sold significant amounts of stock, including the CEO and COO each selling 90,630 shares at an average price of $340.35 to cover tax obligations tied to equity awards. Insiders sold 408,558 shares worth about $127.3 million over the last quarter.
• The company reported better-than-expected quarterly results, with $0.80 in EPS and $392.4 million in revenue, up 104.5% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $348.33, although shares recently traded down 5.4% at $285.82.

Counterpoint Mutual Funds LLC boosted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 42.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,947 shares of the company's stock after purchasing an additional 9,870 shares during the quarter. Astera Labs makes up 1.0% of Counterpoint Mutual Funds LLC's holdings, making the stock its 7th largest position. Counterpoint Mutual Funds LLC's holdings in Astera Labs were worth $11,728,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ALAB. BlackRock Inc. purchased a new position in shares of Astera Labs in the second quarter worth about $6,609,581,000. ABS Investment Management LLC acquired a new position in shares of Astera Labs during the 2nd quarter valued at about $1,980,382,000. Van ECK Associates Corp increased its holdings in shares of Astera Labs by 20.0% during the 2nd quarter. Van ECK Associates Corp now owns 2,237,961 shares of the company's stock worth $1,080,980,000 after buying an additional 373,545 shares during the last quarter. Bank of America Corp DE purchased a new position in Astera Labs in the second quarter worth approximately $1,061,791,000. Finally, Atreides Management LP acquired a new stake in shares of Astera Labs during the 2nd quarter worth about $587,736,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Insiders Place Their Bets

In other Astera Labs news, CEO Jitendra Mohan sold 90,630 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $340.35, for a total value of $30,845,920.50. Following the sale, the chief executive officer directly owned 1,266,665 shares of the company's stock, valued at approximately $431,109,432.75. This trade represents a 6.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Sanjay Gajendra sold 90,630 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $340.35, for a total transaction of $30,845,920.50. Following the transaction, the chief operating officer directly owned 1,119,038 shares in the company, valued at approximately $380,864,583.30. This represents a 7.49% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 408,558 shares of company stock valued at $127,306,034. 10.40% of the stock is currently owned by insiders.

Astera Labs Trading Down 5.4%

Shares of ALAB opened at $285.82 on Friday. The stock's 50 day moving average is $314.86 and its two-hundred day moving average is $297.01. The firm has a market capitalization of $49.59 billion, a PE ratio of 141.50 and a beta of 3.68. Astera Labs, Inc. has a twelve month low of $97.89 and a twelve month high of $499.48.

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. The company had revenue of $392.40 million during the quarter, compared to analysts' expectations of $360.85 million. Astera Labs had a net margin of 30.74% and a return on equity of 19.24%. The firm's quarterly revenue was up 104.5% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. On average, sell-side analysts predict that Astera Labs, Inc. will post 2.70 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group raised their price target on Astera Labs from $270.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Northland Securities cut Astera Labs from an "outperform" rating to a "market perform" rating in a research note on Friday, October 9th. Stifel Nicolaus boosted their price target on shares of Astera Labs from $260.00 to $460.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Susquehanna increased their target price on Astera Labs from $230.00 to $275.00 and gave the company a "neutral" rating in a report on Friday, July 31st. Finally, Needham & Company LLC boosted their target price on Astera Labs from $260.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating and ten 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 $348.33.

Astera Labs Profile

Astera Labs, Inc is a fabless semiconductor company that develops connectivity solutions for cloud and artificial intelligence infrastructure. Its products are designed to help data centers connect and manage processors, memory, storage, and networking components in high-performance computing systems.

The company's portfolio includes Aries PCI Express and Compute Express Link (CXL) smart memory controllers, Scorpio PCIe switches, Taurus Ethernet fabric switches, and Leo CXL memory connectivity products.

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