Elevation Point Wealth Partners LLC Buys New Position in Astera Labs, Inc. $ALAB

Key Points

• Elevation Point Wealth Partners bought 5,714 Astera Labs shares worth approximately $2.76 million in the second quarter. Institutional investors collectively own 60.47% of ALAB, with several firms increasing their holdings.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $333.00; recent targets range as high as $500.
• Astera Labs reported quarterly earnings of $0.80 per share and revenue of $392.4 million, beating estimates while revenue grew 104.5% year over year. Meanwhile, insiders sold 419,244 shares worth about $163.1 million over the past three months.

Elevation Point Wealth Partners LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,714 shares of the company's stock, valued at approximately $2,760,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada grew its stake in Astera Labs by 167.3% during the first quarter. Royal Bank of Canada now owns 152,453 shares of the company's stock valued at $9,097,000 after acquiring an additional 95,409 shares in the last quarter. AQR Capital Management LLC lifted its stake in Astera Labs by 213.4% in the 1st 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 in the last quarter. Empowered Funds LLC lifted its stake in Astera Labs by 917.3% in the 1st quarter. Empowered Funds LLC now owns 4,639 shares of the company's stock worth $277,000 after purchasing an additional 4,183 shares in the last quarter. First Trust Advisors LP boosted its holdings in Astera Labs by 102.0% in the 2nd quarter. First Trust Advisors LP now owns 112,766 shares of the company's stock valued at $10,196,000 after purchasing an additional 56,952 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in Astera Labs by 54.9% in the 2nd quarter. Brown Advisory Inc. now owns 5,581 shares of the company's stock valued at $505,000 after purchasing an additional 1,977 shares during the period. 60.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALAB has been the topic of several research analyst reports. Rothschild & Co Redburn started coverage on shares of Astera Labs in a report on Friday, May 1st. They issued a "neutral" rating and a $153.00 price target on the stock. Susquehanna lifted their price objective on Astera Labs from $230.00 to $275.00 and gave the company a "neutral" rating in a research note on Friday, July 31st. Jefferies Financial Group boosted their target price on Astera Labs from $270.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their target price on Astera Labs from $425.00 to $500.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Finally, Bank of America raised their price target on Astera Labs from $240.00 to $450.00 and gave the company a "neutral" rating in a report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued 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 $333.00.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $284.97 on Monday. The firm has a market capitalization of $49.44 billion, a PE ratio of 141.07 and a beta of 3.84. Astera Labs, Inc. has a 52-week low of $97.89 and a 52-week high of $499.48. The firm has a fifty day moving average of $352.70 and a 200 day moving average of $245.57.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.11. Astera Labs had a return on equity of 19.24% and a net margin of 30.74%.The business had revenue of $392.40 million for the quarter, compared to the consensus estimate of $360.85 million. During the same quarter last year, the business posted $0.44 earnings per share. The company's revenue for the quarter was up 104.5% on a year-over-year basis. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. On average, sell-side analysts forecast that Astera Labs, Inc. will post 2.7 EPS for the current fiscal year.

Insider Activity

In related news, COO Sanjay Gajendra 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 transaction of $30,845,920.50. Following the transaction, the chief operating officer directly owned 1,119,038 shares of the company's stock, valued at approximately $380,864,583.30. This trade represents a 7.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stefan A. Dyckerhoff sold 8,994 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $450.00, for a total value of $4,047,300.00. Following the completion of the sale, the director owned 4,631 shares of the company's stock, valued at $2,083,950. The trade was a 66.01% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 419,244 shares of company stock worth $163,135,169. 10.40% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding ALAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astera Labs, Inc. (NASDAQ:ALAB - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source