Patten Group Inc. Purchases New Stake in Astera Labs, Inc. $ALAB

Patten Group Inc. acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,384 shares of the company’s stock, valued at approximately $371,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Astera Labs by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 13,827,506 shares of the company’s stock worth $2,300,344,000 after purchasing an additional 84,365 shares during the period. State Street Corp lifted its position in Astera Labs by 32.5% in the 4th quarter. State Street Corp now owns 3,099,809 shares of the company’s stock worth $515,684,000 after buying an additional 760,358 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Astera Labs by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 2,429,078 shares of the company’s stock valued at $403,598,000 after acquiring an additional 104,935 shares in the last quarter. Fred Alger Management LLC increased its stake in shares of Astera Labs by 25.5% in the fourth quarter. Fred Alger Management LLC now owns 1,934,688 shares of the company’s stock worth $321,855,000 after acquiring an additional 393,250 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Astera Labs by 33.0% during the fourth quarter. Morgan Stanley now owns 1,934,467 shares of the company’s stock worth $321,818,000 after acquiring an additional 480,009 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Buying and Selling

In other news, COO Sanjay Gajendra sold 400,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $290.30, for a total value of $116,120,000.00. Following the sale, the chief operating officer owned 5,064,213 shares in the company, valued at approximately $1,470,141,033.90. This trade represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jitendra Mohan sold 325,693 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $172.14, for a total transaction of $56,064,793.02. Following the transaction, the chief executive officer owned 4,079,322 shares of the company’s stock, valued at approximately $702,214,489.08. The trade was a 7.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,981,441 shares of company stock valued at $444,969,514. Corporate insiders own 10.40% of the company’s stock.

Astera Labs Price Performance

ALAB stock opened at $406.42 on Friday. The stock has a market capitalization of $69.66 billion, a price-to-earnings ratio of 274.61, a price-to-earnings-growth ratio of 4.66 and a beta of 3.66. The company has a 50-day moving average of $314.72 and a two-hundred day moving average of $205.55. Astera Labs, Inc. has a 52-week low of $88.18 and a 52-week high of $499.48.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on ALAB. JPMorgan Chase & Co. raised their price target on Astera Labs from $205.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Citigroup cut shares of Astera Labs from a “buy” rating to a “market perform” rating in a research note on Tuesday, May 26th. Susquehanna increased their price target on shares of Astera Labs from $155.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. TD Cowen raised their price target on shares of Astera Labs from $140.00 to $225.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Finally, UBS Group upped their price objective on shares of Astera Labs from $205.00 to $400.00 and gave the stock a “neutral” rating in a report on Monday. Twelve 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 $265.75.

About Astera Labs

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.