Pacer Advisors Inc. Decreases Position in Astera Labs, Inc. $ALAB

Key Points

• Pacer Advisors Inc. cut its Astera Labs stake by 24.4% in the fourth quarter, selling 125,074 shares and ending with 388,078 shares worth about $64.6 million.
• Astera Labs reported strong quarterly results, with EPS of $0.61 and revenue of $308.4 million, both ahead of estimates and up 93.5% year over year.
• Wall Street remains mostly bullish on ALAB, with 12 Buy ratings and 11 Hold ratings; the consensus price target is $233.75, though Citigroup recently downgraded the stock to Market Perform.

Pacer Advisors Inc. decreased its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 24.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 388,078 shares of the company's stock after selling 125,074 shares during the period. Pacer Advisors Inc. owned about 0.23% of Astera Labs worth $64,561,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALAB. Lido Advisors LLC grew 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 valued at $2,046,000 after acquiring an additional 57 shares during the last quarter. Perigon Wealth Management LLC raised its position in Astera Labs by 6.2% during the fourth quarter. Perigon Wealth Management LLC now owns 1,252 shares of the company's stock worth $208,000 after acquiring an additional 73 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Astera Labs by 13.6% in the third quarter. Clearstead Advisors LLC now owns 636 shares of the company's stock valued at $125,000 after purchasing an additional 76 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Astera Labs by 9.2% in the fourth quarter. Sound Income Strategies LLC now owns 902 shares of the company's stock valued at $164,000 after purchasing an additional 76 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Astera Labs by 2.6% in the fourth quarter. Venturi Wealth Management LLC now owns 3,284 shares of the company's stock valued at $546,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Price Performance

NASDAQ:ALAB opened at $417.07 on Friday. The firm has a market cap of $71.49 billion, a PE ratio of 281.80, a P/E/G ratio of 4.96 and a beta of 3.95. The firm has a 50 day simple moving average of $258.60 and a 200-day simple moving average of $185.72. Astera Labs, Inc. has a 1-year low of $84.78 and a 1-year high of $421.20.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.07. The firm had revenue of $308.36 million for the quarter, compared to analyst estimates of $292.19 million. Astera Labs had a net margin of 26.72% and a return on equity of 18.49%. Astera Labs's revenue was up 93.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. Astera Labs has set its Q2 2026 guidance at 0.680-0.700 EPS. As a group, sell-side analysts expect that Astera Labs, Inc. will post 1.84 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a "buy" rating and set a $270.00 price objective on shares of Astera Labs in a research note on Wednesday, May 6th. Morgan Stanley upped their target price on Astera Labs from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Stifel Nicolaus increased their target price on Astera Labs from $236.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised their price target on Astera Labs from $205.00 to $280.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Finally, Citigroup cut Astera Labs from a "buy" rating to a "market perform" rating in a report on Tuesday, May 26th. Twelve investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $233.75.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 183,000 shares of Astera Labs stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $107.61, for a total value of $19,692,630.00. Following the completion of the sale, the director owned 319,863 shares of the company's stock, valued at $34,420,457.43. The trade was a 36.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Sanjay Gajendra sold 400,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief operating officer owned 5,064,213 shares of the company's stock, valued at $1,470,141,033.90. The trade was a 7.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 2,161,256 shares of company stock valued at $459,844,296 in the last quarter. 10.40% of the stock is currently owned by company 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.

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