Salem Investment Counselors Inc. Sells 24,185 Shares of Astera Labs, Inc. $ALAB

by · The Markets Daily

Salem Investment Counselors Inc. decreased its stake in Astera Labs, Inc. (NASDAQ:ALAB – Free Report) by 13.5% in the third quarter, Holdings Channel reports. The institutional investor owned 154,723 shares of the company’s stock after selling 24,185 shares during the quarter. Astera Labs makes up approximately 1.3% of Salem Investment Counselors Inc.’s holdings, making the stock its 18th largest position. Salem Investment Counselors Inc.’s holdings in Astera Labs were worth $55,077,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Astera Labs during the 2nd quarter valued at $6,609,581,000. Bank of America Corp DE acquired a new position in shares of Astera Labs in the second quarter worth $1,061,791,000. Atreides Management LP increased its stake in shares of Astera Labs by 108.9% in the first quarter. Atreides Management LP now owns 3,365,787 shares of the company’s stock worth $368,890,000 after acquiring an additional 1,754,593 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Astera Labs during the fourth quarter worth $148,980,000. Finally, Amundi raised its holdings in shares of Astera Labs by 77.9% during the first quarter. Amundi now owns 1,880,830 shares of the company’s stock worth $206,139,000 after acquiring an additional 823,477 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Stock Up 0.4%

Shares of ALAB opened at $325.41 on Wednesday. The firm has a market cap of $56.46 billion, a price-to-earnings ratio of 161.09 and a beta of 3.68. The company’s fifty day moving average is $316.78 and its 200-day moving average is $294.44. Astera Labs, Inc. has a 12 month low of $97.89 and a 12 month high of $499.48.

Astera Labs (NASDAQ:ALAB – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.11. Astera Labs had a net margin of 30.74% and a return on equity of 19.24%. The business had revenue of $392.40 million during the quarter, compared to analyst estimates of $360.85 million. During the same quarter in the previous year, the business earned $0.44 EPS. Astera Labs’s quarterly revenue was up 104.5% compared to the same quarter last year. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. As a group, research analysts predict that Astera Labs, Inc. will post 2.70 earnings per share for the current fiscal year.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 6,801 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $340.50, for a total transaction of $2,315,740.50. Following the transaction, the general counsel directly owned 96,542 shares in the company, valued at $32,872,551. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stefan Dyckerhoff sold 8,994 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $274.96, for a total value of $2,472,990.24. Following the transaction, the director owned 3,309 shares in the company, valued at approximately $909,842.64. This trade represents a 73.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 408,558 shares of company stock valued at $127,306,034. Corporate insiders own 10.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ALAB shares. UBS Group reissued a “neutral” rating and set a $425.00 price objective on shares of Astera Labs in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their target price on Astera Labs from $425.00 to $500.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Zacks Research downgraded Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Susquehanna raised their price target on Astera Labs from $230.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, July 31st. Finally, Citigroup lowered Astera Labs from a “buy” rating to a “hold” rating in a report on Friday. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Moderate Buy” and a consensus price target of $348.33.

Get Our Latest Stock Analysis on ALAB

Astera Labs Profile

(Free Report)

Astera Labs, Inc is a fabless semiconductor company that develops connectivity solutions for cloud and artificial intelligence infrastructure. Its products are designed to help data centers connect and manage processors, memory, storage, and networking components in high-performance computing systems.

The company’s portfolio includes Aries PCI Express and Compute Express Link (CXL) smart memory controllers, Scorpio PCIe switches, Taurus Ethernet fabric switches, and Leo CXL memory connectivity products.

See Also

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