Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 202,725 shares of the company's stock, valued at approximately $97,920,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.12% of Astera Labs at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Astera Labs by 167.3% in the first quarter. Royal Bank of Canada now owns 152,453 shares of the company's stock valued at $9,097,000 after purchasing an additional 95,409 shares in the last quarter. AQR Capital Management LLC lifted its position in Astera Labs by 213.4% in the first 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 during the period. Empowered Funds LLC boosted its stake in Astera Labs by 917.3% during the first quarter. Empowered Funds LLC now owns 4,639 shares of the company's stock worth $277,000 after buying an additional 4,183 shares in the last quarter. First Trust Advisors LP boosted its stake in Astera Labs by 102.0% during the second quarter. First Trust Advisors LP now owns 112,766 shares of the company's stock worth $10,196,000 after buying an additional 56,952 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in Astera Labs by 54.9% during the second quarter. Brown Advisory Inc. now owns 5,581 shares of the company's stock worth $505,000 after buying an additional 1,977 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.
Astera Labs Stock Down 5.2%
Shares of NASDAQ:ALAB opened at $303.44 on Wednesday. The firm has a market cap of $52.64 billion, a P/E ratio of 150.22 and a beta of 3.84. Astera Labs, Inc. has a 12 month low of $97.89 and a 12 month high of $499.48. The company's 50-day moving average price is $356.72 and its two-hundred day moving average price is $242.75.
Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results 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 net margin of 30.74% and a return on equity of 19.24%. The company had revenue of $392.40 million during the quarter, compared to the consensus estimate of $360.85 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The company's revenue was up 104.5% on a year-over-year basis. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. As a group, equities analysts predict that Astera Labs, Inc. will post 2.7 earnings per share for the current fiscal year.
Insider Activity at Astera Labs
In related news, Director Manuel Alba sold 136,974 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $442.01, for a total value of $60,543,877.74. Following the completion of the transaction, the director owned 1,287,524 shares in the company, valued at $569,098,483.24. The trade was a 9.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jack R. Lazar sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $355.17, for a total transaction of $3,551,700.00. Following the completion of the transaction, the director owned 75,688 shares of the company's stock, valued at $26,882,106.96. This trade represents a 11.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 631,979 shares of company stock worth $215,479,247. 10.40% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on ALAB shares. JPMorgan Chase & Co. increased their price objective on shares of Astera Labs from $205.00 to $280.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Morgan Stanley lifted their target price on shares of Astera Labs to $335.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Barclays upped their target price on shares of Astera Labs from $200.00 to $325.00 and gave the company an "equal weight" rating in a research note on Monday, July 20th. Jefferies Financial Group increased their price target on shares of Astera Labs from $270.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus raised their price target on shares of Astera Labs from $260.00 to $460.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $333.00.
View Our Latest Stock Analysis on Astera Labs
About Astera Labs
(
Free Report)
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.
Recommended Stories
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.
Before you consider Astera Labs, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Astera Labs wasn't on the list.
While Astera Labs currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
