Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its stake in Astera Labs by 1,326.7% in Q1, acquiring an additional 34,692 shares, bringing its total holdings to 37,307 shares worth $2,226,000.
• Astera Labs recently reported impressive quarterly earnings, with $159.44 million in revenue, surpassing analysts' expectations, and a significant 144.1% increase year-over-year.
• Insider selling activity has been notable, with CEO Jitendra Mohan selling 76,258 shares and COO Sanjay Gajendra selling 165,000 shares, representing decreases of 13.82% and 19.19% in their respective holdings.

XTX Topco Ltd grew its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 1,326.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,307 shares of the company's stock after acquiring an additional 34,692 shares during the quarter. XTX Topco Ltd's holdings in Astera Labs were worth $2,226,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ALAB. Thrivent Financial for Lutherans purchased a new stake in shares of Astera Labs during the 4th quarter valued at about $540,000. LPL Financial LLC increased its stake in Astera Labs by 94.0% in the 4th quarter. LPL Financial LLC now owns 54,402 shares of the company's stock worth $7,205,000 after acquiring an additional 26,364 shares during the last quarter. Corebridge Financial Inc. lifted its position in Astera Labs by 359.9% during the fourth quarter. Corebridge Financial Inc. now owns 814 shares of the company's stock valued at $108,000 after purchasing an additional 637 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Astera Labs in the 4th quarter worth about $632,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of Astera Labs in the 4th quarter worth approximately $782,000. 60.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.76, for a total value of $11,840,400.00. Following the transaction, the insider directly owned 755,000 shares in the company, valued at approximately $54,178,800. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jitendra Mohan sold 128,250 shares of Astera Labs stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $90.02, for a total transaction of $11,545,065.00. Following the completion of the sale, the chief executive officer owned 541,125 shares of the company's stock, valued at $48,712,072.50. This trade represents a 19.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,181,759 shares of company stock valued at $200,883,431 over the last ninety days.

Astera Labs Stock Down 4.1%

Shares of NASDAQ ALAB traded down $5.63 during midday trading on Friday, hitting $131.10. The stock had a trading volume of 6,935,750 shares, compared to its average volume of 5,314,275. The stock has a 50 day simple moving average of $99.49 and a 200-day simple moving average of $86.35. The company has a market capitalization of $21.62 billion, a PE ratio of 1,311.00, a P/E/G ratio of 6.15 and a beta of 1.38. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. Astera Labs's revenue was up 144.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ALAB shares. Needham & Company LLC decreased their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Northland Securities downgraded shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price objective on the stock. in a research report on Tuesday, July 22nd. Jefferies Financial Group raised their price target on Astera Labs from $95.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Evercore ISI boosted their price objective on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a report on Wednesday, May 21st. Finally, William Blair began coverage on shares of Astera Labs in a report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, Astera Labs currently has a consensus rating of "Moderate Buy" and an average price target of $104.40.

Astera Labs Company 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.