1832 Asset Management L.P. Reduces $245M in Astera Labs, Inc. ($ALAB)
1832 Asset Management cut its position in Astera Labs by 36.8%, reducing its holdings to 850,700 shares.
Key Points
- 1832 Asset Management reduced its stake in Astera Labs by 36.8%, selling 496,300 shares to hold 850,700 shares worth $346.6 million.
- Astera Labs, trading at $407.43, has a market cap of $71.5 billion and a forward P/E of 99.1.
- Analysts maintain a 'buy' consensus with a mean target price of $244.97, despite recent insider sales.
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1832 Asset Management L.P. has trimmed its stake in Astera Labs, Inc. (NasdaqGS: ALAB) by 36.8%, according to its latest 13F filing with the SEC. The fund reduced its holdings by 496,300 shares, leaving it with 850,700 shares valued at approximately $346.6 million as of the reporting period.
1832 Asset Management L.P. vs. the S&P 500
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What Changed in 1832 Asset Management's Astera Labs Position
The asset manager's decision to cut its position reflects a significant reduction from the previous 1,347,000 shares. This move resulted in a decrease of 496,300 shares, representing a 36.8% reduction in its stake. The remaining 850,700 shares are valued at about $346.6 million.
Other Institutional Activity in Astera Labs
FMR LLC increased its holdings in Astera Labs by 194,944 shares, bringing its total to 25,529,885 shares worth approximately $2.8 billion. Conversely, BlackRock, Inc. reduced its position by 1,519,089 shares, ending with 11,449,769 shares valued at $1.25 billion. Vanguard Portfolio Management LLC and Vanguard Capital Management LLC both established new positions, each holding 7,309,778 and 6,340,732 shares, respectively. Atreides Management, LP significantly boosted its stake by 1,754,593 shares, now holding 3,365,787 shares worth about $368.9 million.
Astera Labs, Inc. Stock Up 66.5%
Shares of Astera Labs (NasdaqGS: ALAB) recently traded around $407.43. The company boasts a market capitalization of approximately $71.5 billion. It has a price-to-earnings (P/E) ratio of 281.8 and a forward P/E of 99.1, with a beta of 3.963. The stock's 52-week range spans from $84.78 to $421.20, with a 50-day moving average of $258.03 and a 200-day moving average of $186.22. Astera Labs maintains a solid current ratio of 11.3 and a quick ratio of 10.55, with a debt-to-equity ratio of 2.801.
$ALAB stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Astera Labs reported revenue of approximately $1 billion, reflecting a growth rate of 93.4%. The company's net margin stood at 26.7%, and it achieved a return on equity of 21.1%. Earnings per share (EPS) were reported at $1.48. The next earnings announcement is scheduled for August 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
10 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 11.6%. Revenue beat estimates by 3.5%.
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Profit surprise
EBITDA missed by 34 percent. Operating income missed by 40 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
10 target raises.
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Earnings quality
Gross margin up 1.4 points. Operating margin up 13.0 points.
Earnings Call Summary
Astera Labs delivered strong Q1 results with revenue of $308 million, up 93 percent year over year, driven by broad growth across signal conditioning and fabric switch products. PCIe Gen 6 products contributed over one third of total revenue. The company shipped initial production volumes of the new Scorpio X 320-lane switch and is expanding optical capabilities through the XScale acquisition, with near-package optics expected to ship in 2027 and chiplet-package optics in 2028.
Guidance Management expects revenue between $355 million and $365 million in the next quarter, up 15 to 18 percent sequentially. They expect non-GAAP earnings per share between $0.68 and $0.70, with gross margin around 73 percent before a one-time customer agreement charge. The Scorpio product line is expected to become their largest business by year end.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Astera Labs, Inc.
On June 4, 2026, insider Jack Lazar sold 10,000 shares at an average price of $355.17 as part of a planned sale. On the same day, insiders Craig Barratt, Michael Hurlston, Bethany Mayer, Jack Lazar, and Stefan Dyckerhoff each acquired 837 shares, though the purchase price was not disclosed.
Analysts Set New Price Targets
On May 19, 2026, Evercore ISI Group maintained their 'buy' rating on Astera Labs, setting a price target of $297. Barclays, on May 7, 2026, held a 'hold' rating with a target of $200. JP Morgan, Citigroup, Morgan Stanley, and RBC Capital maintained 'buy' ratings with targets ranging from $240 to $280. The consensus among 22 analysts is a 'buy' rating, with a mean target price of $244.97.
About Astera Labs
Astera Labs, Inc., based in San Jose, California, is a technology company specializing in semiconductor-based connectivity solutions for cloud and AI infrastructure. Founded in 2017, it designs and manufactures high-speed, mixed-signal connectivity products and offers the COSMOS software suite for connectivity management. The company caters to hyperscalers and system original equipment manufacturers, with a workforce of 756 employees led by CEO Mr. Jitendra Mohan.
Bottom Line
1832 Asset Management's decision to reduce its stake in Astera Labs by 36.8% reflects a reassessment of its investment strategy. With a high market cap and strong growth metrics, Astera Labs remains a significant player in the semiconductor industry. Analyst ratings suggest continued interest, with a consensus 'buy' rating and a mean target price below the current trading level. Investors should note that 13F filings are backward-looking and may not represent the fund's current position.
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