Legal & General Group Plc Invests $311.47 Million in Astera Labs, Inc. $ALAB

Legal & General Group Plc acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 644,847 shares of the company’s stock, valued at approximately $311,474,000.

A number of other hedge funds also recently bought and sold shares of ALAB. Royal Bank of Canada lifted its stake in Astera Labs by 167.3% in 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 in the last quarter. AQR Capital Management LLC grew its position in shares of Astera Labs by 213.4% in the first quarter. AQR Capital Management LLC now owns 11,391 shares of the company’s stock valued at $680,000 after purchasing an additional 7,756 shares in the last quarter. Empowered Funds LLC grew its position in shares of Astera Labs by 917.3% in the first quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock valued at $277,000 after purchasing an additional 4,183 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Astera Labs by 102.0% in the second quarter. First Trust Advisors LP now owns 112,766 shares of the company’s stock valued at $10,196,000 after purchasing an additional 56,952 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Astera Labs by 54.9% in the second quarter. Brown Advisory Inc. now owns 5,581 shares of the company’s stock valued at $505,000 after purchasing an additional 1,977 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insider Buying and Selling at Astera Labs

In other news, Director Manuel Alba sold 136,974 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $442.01, for a total value of $60,543,877.74. Following the transaction, the director directly owned 1,287,524 shares in the company, valued at approximately $569,098,483.24. This represents a 9.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Sanjay Gajendra sold 90,630 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $340.35, for a total transaction of $30,845,920.50. Following the transaction, the chief operating officer directly owned 1,119,038 shares of the company’s stock, valued at $380,864,583.30. The trade was a 7.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 419,244 shares of company stock valued at $163,135,169. 10.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ALAB has been the topic of a number of recent research reports. Bank of America boosted their price objective on Astera Labs from $240.00 to $450.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 23rd. Jefferies Financial Group raised their target price on Astera Labs from $270.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. TD Cowen reduced their price target on Astera Labs from $425.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 5th. Zacks Research raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $205.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $333.00.

Astera Labs Trading Up 1.8%

NASDAQ ALAB opened at $282.65 on Wednesday. The stock has a fifty day simple moving average of $348.88 and a 200-day simple moving average of $247.38. The stock has a market cap of $49.04 billion, a PE ratio of 139.93 and a beta of 3.84. Astera Labs, Inc. has a twelve month low of $97.89 and a twelve month high of $499.48.

Astera Labs (NASDAQ:ALAB) last issued 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 firm had revenue of $392.40 million for the quarter, compared to analyst estimates of $360.85 million. During the same period in the previous year, the firm earned $0.44 EPS. Astera Labs’s revenue was up 104.5% on a year-over-year basis. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. Research analysts predict that Astera Labs, Inc. will post 2.7 EPS for the current 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.