Taylor Frigon Capital Management LLC Sells 5,677 Shares of Astera Labs, Inc. $ALAB

Key Points

• Taylor Frigon Capital Management cut its Astera Labs position by 42.7% in the third quarter, selling 5,677 shares and retaining 7,609 shares valued at approximately $2.7 million.
• Institutional investors own 60.47% of Astera Labs, with major firms including BlackRock and Bank of America establishing new positions and Atreides Management and Amundi significantly increasing their stakes.
• Astera Labs reported quarterly EPS of $0.80 versus the $0.69 consensus estimate, while revenue rose 104.5% year over year to $392.4 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $340.79.

Taylor Frigon Capital Management LLC lowered its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 42.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,609 shares of the company's stock after selling 5,677 shares during the period. Astera Labs comprises about 1.4% of Taylor Frigon Capital Management LLC's portfolio, making the stock its 26th biggest position. Taylor Frigon Capital Management LLC's holdings in Astera Labs were worth $2,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALAB. BlackRock Inc. bought a new position in Astera Labs in the second quarter valued at about $6,609,581,000. Bank of America Corp DE acquired a new stake in shares of Astera Labs during the second quarter valued at about $1,061,791,000. Atreides Management LP boosted its stake in shares of Astera Labs by 108.9% during the first quarter. Atreides Management LP now owns 3,365,787 shares of the company's stock valued at $368,890,000 after purchasing an additional 1,754,593 shares in the last quarter. Amundi boosted its stake in shares of Astera Labs by 77.9% during the first quarter. Amundi now owns 1,880,830 shares of the company's stock valued at $206,139,000 after purchasing an additional 823,477 shares in the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Astera Labs during the second quarter worth about $325,602,000. Institutional investors own 60.47% of the company's stock.

Astera Labs Stock Down 0.3%

NASDAQ ALAB opened at $257.16 on Friday. The company has a market capitalization of $44.61 billion, a price-to-earnings ratio of 127.31 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. The stock has a fifty day simple moving average of $310.54 and a 200 day simple moving average of $302.78.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.11. The business had revenue of $392.40 million during the quarter, compared to analyst estimates of $360.85 million. Astera Labs had a return on equity of 19.24% and a net margin of 30.74%. Astera Labs's revenue for the quarter was up 104.5% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. Research analysts expect that Astera Labs, Inc. will post 2.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 6,801 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $340.50, for a total transaction of $2,315,740.50. Following the completion of the transaction, the general counsel directly owned 96,542 shares in the company, valued at $32,872,551. This trade represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 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. In the last quarter, insiders have sold 408,558 shares of company stock valued at $127,306,034. Corporate insiders own 10.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Needham & Company LLC upped 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. UBS Group reiterated a "neutral" rating and issued a $425.00 price objective on shares of Astera Labs in a report on Wednesday, August 5th. Morgan Stanley lifted their target price on shares of Astera Labs from $240.00 to $335.00 and gave the stock an "overweight" rating in a research report on Monday, August 3rd. Zacks Research downgraded shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 5th. Finally, Jefferies Financial Group boosted their target price on shares of Astera Labs from $270.00 to $450.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Astera Labs presently has an average rating of "Moderate Buy" and an average target price of $340.79.

Astera Labs Company Profile

Astera Labs, Inc is a semiconductor and connectivity solutions company that develops hardware and software for data centers, cloud computing, and artificial intelligence infrastructure. Its products are designed to help move data between processors, memory, storage, and networking components while addressing bandwidth, latency, and system-management requirements.

The company's portfolio includes Aries PCI Express and Compute Express Link (CXL) Smart Retimers, Taurus Ethernet Smart Cable Modules, Scorpio Smart Fabric Switches, and Leo CXL Memory Connectivity Controllers.

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.