Fred Alger Management LLC Has $321.86 Million Stock Position in Astera Labs, Inc. $ALAB

Fred Alger Management LLC lifted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 25.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,934,688 shares of the company’s stock after purchasing an additional 393,250 shares during the quarter. Astera Labs makes up about 1.3% of Fred Alger Management LLC’s holdings, making the stock its 15th biggest position. Fred Alger Management LLC’s holdings in Astera Labs were worth $321,855,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ALAB. Royal Bank of Canada increased its stake in shares of Astera Labs by 167.3% during the 1st quarter. Royal Bank of Canada now owns 152,453 shares of the company’s stock worth $9,097,000 after purchasing an additional 95,409 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Astera Labs by 213.4% during the 1st quarter. AQR Capital Management LLC now owns 11,391 shares of the company’s stock worth $680,000 after purchasing an additional 7,756 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Astera Labs by 917.3% during the 1st quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock worth $277,000 after buying an additional 4,183 shares during the period. First Trust Advisors LP boosted its holdings in shares of Astera Labs by 102.0% during the 2nd quarter. First Trust Advisors LP now owns 112,766 shares of the company’s stock worth $10,196,000 after buying an additional 56,952 shares during the period. Finally, Brown Advisory Inc. boosted its holdings in shares of Astera Labs by 54.9% during the 2nd quarter. Brown Advisory Inc. now owns 5,581 shares of the company’s stock worth $505,000 after buying an additional 1,977 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insider Activity

In other news, CEO Jitendra Mohan sold 325,693 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $172.14, for a total value of $56,064,793.02. Following the completion of the transaction, the chief executive officer owned 4,079,322 shares in the company, valued at approximately $702,214,489.08. This represents a 7.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $290.30, for a total transaction 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 approximately $1,470,141,033.90. This represents a 7.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 2,161,256 shares of company stock worth $459,844,296. 10.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALAB shares. Evercore reaffirmed an “outperform” rating and set a $297.00 price objective on shares of Astera Labs in a report on Tuesday, May 19th. Rothschild & Co Redburn started coverage on shares of Astera Labs in a report on Friday, May 1st. They set a “neutral” rating and a $153.00 price objective for the company. Loop Capital started coverage on shares of Astera Labs in a report on Thursday, March 5th. They set a “buy” rating and a $250.00 price objective for the company. Susquehanna upped their price objective on shares of Astera Labs from $155.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley upped their price objective on shares of Astera Labs from $210.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Twelve research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $233.75.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $361.71 on Wednesday. Astera Labs, Inc. has a fifty-two week low of $84.78 and a fifty-two week high of $398.13. The company has a market cap of $62.00 billion, a PE ratio of 244.40, a price-to-earnings-growth ratio of 5.15 and a beta of 3.94. The firm has a fifty day moving average price of $247.50 and a two-hundred day moving average price of $182.34.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.07. Astera Labs had a net margin of 26.72% and a return on equity of 18.49%. The company had revenue of $308.36 million during the quarter, compared to analysts’ expectations of $292.19 million. During the same quarter in the prior year, the company posted $0.33 EPS. The business’s revenue was up 93.5% on a year-over-year basis. Astera Labs has set its Q2 2026 guidance at 0.680-0.700 EPS. Analysts expect that Astera Labs, Inc. will post 1.84 earnings per share for the current fiscal year.

Astera Labs Company 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.