The Manufacturers Life Insurance Company Purchases 356,664 Shares of Astera Labs, Inc. $ALAB

Key Points

• The Manufacturers Life Insurance Company increased its stake in Astera Labs by 116.7%, owning 662,223 shares worth approximately $39.5 million as of the latest SEC filing.
• Astera Labs received several positive analyst ratings, with the price target raised to $215.00 by Evercore ISI, indicating strong growth potential for the company.
• The company reported earnings of $0.44 per share for the last quarter, surpassing expectations and demonstrating a significant year-over-year revenue increase of 149.5%.

The Manufacturers Life Insurance Company grew its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 116.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 662,223 shares of the company's stock after buying an additional 356,664 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.40% of Astera Labs worth $39,515,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALAB. Vanguard Group Inc. raised its position in shares of Astera Labs by 0.9% during the first quarter. Vanguard Group Inc. now owns 9,297,476 shares of the company's stock worth $554,780,000 after purchasing an additional 85,846 shares during the period. Driehaus Capital Management LLC raised its position in shares of Astera Labs by 16,640.4% during the fourth quarter. Driehaus Capital Management LLC now owns 1,324,330 shares of the company's stock worth $175,408,000 after purchasing an additional 1,316,419 shares during the period. Bank of Nova Scotia raised its position in shares of Astera Labs by 3,742.2% during the first quarter. Bank of Nova Scotia now owns 964,400 shares of the company's stock worth $57,546,000 after purchasing an additional 939,300 shares during the period. Polar Capital Holdings Plc acquired a new position in shares of Astera Labs during the fourth quarter worth approximately $126,812,000. Finally, BNP Paribas Financial Markets raised its position in shares of Astera Labs by 4,172.8% during the fourth quarter. BNP Paribas Financial Markets now owns 816,619 shares of the company's stock worth $108,161,000 after purchasing an additional 797,507 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Price Performance

Shares of Astera Labs stock traded up $8.38 during trading hours on Thursday, hitting $184.99. 3,418,733 shares of the company's stock traded hands, compared to its average volume of 4,916,369. Astera Labs, Inc. has a 12-month low of $36.85 and a 12-month high of $199.47. The stock has a market capitalization of $30.75 billion, a price-to-earnings ratio of 329.83, a PEG ratio of 4.62 and a beta of 1.48. The company has a fifty day simple moving average of $137.83 and a 200-day simple moving average of $97.51.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%.The firm had revenue of $191.93 million during the quarter, compared to analyst estimates of $172.46 million. During the same period last year, the firm posted $0.13 EPS. The business's revenue was up 149.5% compared to the same quarter last year. Astera Labs has set its Q3 2025 guidance at 0.380-0.390 EPS. On average, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALAB has been the topic of a number of research reports. Wall Street Zen raised Astera Labs from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday. Northland Capmk lowered Astera Labs from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 22nd. Roth Capital set a $100.00 price target on Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Barclays reissued an "overweight" rating and issued a $155.00 price target (up from $75.00) on shares of Astera Labs in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.00.

Insider Activity

In other news, General Counsel Philip Mazzara sold 10,000 shares of the firm's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $188.70, for a total transaction of $1,887,000.00. Following the completion of the sale, the general counsel directly owned 161,573 shares of the company's stock, valued at $30,488,825.10. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jitendra Mohan sold 91,441 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $183.51, for a total value of $16,780,337.91. Following the transaction, the chief executive officer owned 2,170,877 shares of the company's stock, valued at $398,377,638.27. The trade was a 4.04% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,649,489 shares of company stock worth $232,463,986. 12.50% of the stock is owned by insiders.

Astera Labs Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.