Engineers Gate Manager LP Sells 61,187 Shares of Astera Labs, Inc. $ALAB

Key Points

• Engineers Gate Manager LP cut its Astera Labs stake by 97.8% in the second quarter, selling 61,187 shares and retaining 1,385 shares valued at approximately $669,000.
• Astera Labs insiders have sold heavily, including CEO and COO sales of 90,630 shares each to cover tax obligations; insiders sold 592,244 shares worth about $209.7 million over the past three months.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and $348.33 price target. The company recently exceeded quarterly earnings and revenue estimates, reporting $0.80 EPS and $392.4 million in revenue, up 104.5% year over year.

Engineers Gate Manager LP lessened its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 97.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,385 shares of the company's stock after selling 61,187 shares during the quarter. Engineers Gate Manager LP's holdings in Astera Labs were worth $669,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Reflection Asset Management bought a new position in shares of Astera Labs during the fourth quarter valued at about $25,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Astera Labs in the second quarter worth about $25,000. Archer Investment Corp bought a new stake in shares of Astera Labs in the 2nd quarter valued at about $30,000. Whipplewood Advisors LLC boosted its holdings in Astera Labs by 15,950.0% during the 1st quarter. Whipplewood Advisors LLC now owns 321 shares of the company's stock valued at $35,000 after acquiring an additional 319 shares during the period. Finally, Transamerica Financial Advisors LLC purchased a new stake in Astera Labs during the 2nd quarter valued at about $35,000. 60.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 90,630 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $340.35, for a total value of $30,845,920.50. Following the completion of the transaction, the chief executive officer directly owned 1,266,665 shares in the company, valued at approximately $431,109,432.75. This represents a 6.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 company's stock in a transaction 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 completion of the transaction, the chief operating officer owned 1,119,038 shares of the company's stock, valued at $380,864,583.30. This trade represents a 7.49% decrease in their ownership of the stock. 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. Insiders have sold a total of 592,244 shares of company stock valued at $209,729,973 over the last three months. Insiders own 10.40% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank Of Canada lifted their price target on Astera Labs from $425.00 to $500.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Needham & Company LLC increased their price objective on Astera Labs from $260.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Barclays raised their target price on shares of Astera Labs from $200.00 to $325.00 and gave the stock an "equal weight" rating in a report on Monday, July 20th. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $350.00 target price on the stock in a research note on Monday, August 17th. Finally, Susquehanna increased their price target on shares of Astera Labs from $230.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $348.33.

Astera Labs Price Performance

ALAB opened at $340.74 on Tuesday. The business has a 50 day simple moving average of $302.90 and a two-hundred day simple moving average of $268.04. The firm has a market capitalization of $59.11 billion, a price-to-earnings ratio of 168.68 and a beta of 3.77. Astera Labs, Inc. has a one year low of $97.89 and a one year high of $499.48.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.80 earnings per share for the quarter, topping 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 firm had revenue of $392.40 million for the quarter, compared to analyst estimates of $360.85 million. During the same period last year, the company earned $0.44 EPS. The business's quarterly revenue was up 104.5% compared to the same quarter last year. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. As a group, sell-side analysts expect that Astera Labs, Inc. will post 2.7 EPS for the current fiscal year.

About Astera Labs

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-center operators, system manufacturers and other customers connect, expand and manage the high-speed components used in servers, storage systems and networking platforms.

The company's portfolio includes PCI Express (PCIe) retimers and fabric switches, Compute Express Link (CXL) memory connectivity products, and Ethernet connectivity solutions.

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