Fred Alger Management LLC Has $301.81 Million Position in Astera Labs, Inc. $ALAB

Fred Alger Management LLC cut its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 13.6% in the third quarter, HoldingsChannel.com reports. The fund owned 1,541,438 shares of the company’s stock after selling 242,898 shares during the period. Astera Labs makes up 1.2% of Fred Alger Management LLC’s investment portfolio, making the stock its 18th largest position. Fred Alger Management LLC’s holdings in Astera Labs were worth $301,814,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALAB. Assetmark Inc. boosted its stake in Astera Labs by 374.1% during the 3rd quarter. Assetmark Inc. now owns 128 shares of the company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Astera Labs by 68.6% in the second quarter. Advisors Asset Management Inc. now owns 477 shares of the company’s stock valued at $43,000 after purchasing an additional 194 shares in the last quarter. Manchester Capital Management LLC increased its stake in Astera Labs by 141.5% in the second quarter. Manchester Capital Management LLC now owns 483 shares of the company’s stock valued at $44,000 after purchasing an additional 283 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Astera Labs in the third quarter worth $47,000. Finally, Whittier Trust Co. acquired a new stake in Astera Labs in the third quarter worth $55,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jitendra Mohan sold 94,971 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $123.81, for a total value of $11,758,359.51. Following the sale, the chief executive officer directly owned 1,452,739 shares in the company, valued at $179,863,615.59. The trade was a 6.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Truett Tate sold 12,001 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $123.81, for a total value of $1,485,843.81. Following the transaction, the chief financial officer directly owned 192,083 shares of the company’s stock, valued at $23,781,796.23. This represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 224,292 shares of company stock worth $27,676,069. 12.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and set a $210.00 price target on shares of Astera Labs in a research report on Wednesday, December 3rd. Citigroup dropped their price objective on Astera Labs from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, February 11th. BNP Paribas Exane initiated coverage on Astera Labs in a report on Thursday, November 20th. They set an “outperform” rating on the stock. Royal Bank Of Canada assumed coverage on Astera Labs in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $225.00 target price for the company. Finally, Raymond James Financial assumed coverage on Astera Labs in a report on Friday, November 21st. They issued a “hold” rating for the company. Fifteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.22.

Astera Labs Stock Up 0.3%

Astera Labs stock opened at $120.31 on Monday. The stock has a market capitalization of $20.48 billion, a PE ratio of 98.61, a price-to-earnings-growth ratio of 2.37 and a beta of 1.75. Astera Labs, Inc. has a twelve month low of $47.13 and a twelve month high of $262.90. The company has a 50 day moving average of $147.89 and a 200-day moving average of $168.03.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.07. The company had revenue of $270.58 million during the quarter, compared to the consensus estimate of $249.46 million. Astera Labs had a net margin of 25.70% and a return on equity of 16.12%. The firm’s revenue was up 91.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Astera Labs has set its Q1 2026 guidance at 0.530-0.540 EPS. Equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

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.