California State Teachers Retirement System Reduces $3M in Astera Labs, Inc. ($ALAB)
California State Teachers Retirement System trims its Astera Labs position by 2.64%.
Key Points
- California State Teachers Retirement System reduced its stake in Astera Labs by 5,504 shares, now holding 202,860 shares valued at $80.1 million.
- Astera Labs, trading at $394.87, has a market cap of $66.71 billion and a forward P/E of 92.52, with a 52-week range of $84.78 to $398.13.
- Insiders and analysts remain active, with recent buys and several firms maintaining 'buy' ratings with price targets up to $297.
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California State Teachers Retirement System (CalSTRS) recently trimmed its stake in Astera Labs, Inc. (NasdaqGS: ALAB). The retirement system decreased its holdings by 5,504 shares, or about 2.64%, bringing its total position to 202,860 shares. As of the latest Form 13F filing, this stake is valued at approximately $80.1 million.
What Changed in CalSTRS's Astera Labs Position
CalSTRS reduced its investment in Astera Labs, moving from 208,364 shares to 202,860 shares. This reduction of 5,504 shares reflects a 2.64% decrease in its holdings. The value of the position, based on the latest market data, stands at about $80.1 million.
Other Institutional Activity in Astera Labs
Several other institutional investors have also been active in Astera Labs. FMR LLC increased its holdings by 194,944 shares, reaching a total of 25,529,885 shares valued at approximately $2.8 billion. BlackRock, Inc. reduced its position significantly by 1,519,089 shares, leaving it with 11,449,769 shares worth about $1.25 billion. Atreides Management, LP more than doubled its stake with an addition of 1,754,593 shares, ending with 3,365,787 shares valued at $368.9 million. Meanwhile, State Street Corp added 233,797 shares, bringing its total to 3,333,606 shares valued at $365.4 million.
Astera Labs, Inc. Stock Up 70.8%
Shares of Astera Labs recently traded around $394.87. The company has a substantial market cap of $66.71 billion. Its forward P/E ratio stands at 92.52, indicating investor expectations of future growth. Astera Labs exhibits high volatility with a beta of 3.963. The stock has experienced a 52-week low of $84.78 and a high of $398.13. Its 50-day moving average is $242.21, and the 200-day moving average is $183.18.
$ALAB stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Astera Labs reported revenue of approximately $1 billion with a robust growth rate of 93.4%. The company's net margin is 26.7%, and it boasts a return on equity of 21.1%. 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.
Recent insider activity at Astera Labs includes the sale of 10,000 shares by Jack Lazar on June 4, 2026, at an average price of $355.17, under a planned sale. Additionally, several insiders, including Craig Barratt and Michael Hurlston, each acquired 837 shares on the same day, without a specified price.
Analysts Set New Price Targets
On May 19, 2026, Evercore ISI Group maintained its 'buy' rating for Astera Labs, setting a price target of $297. Barclays, on May 7, maintained a 'hold' rating with a target of $200. Several other analysts, including JP Morgan and Citigroup, continued to recommend 'buy' with price targets ranging from $240 to $280. The overall analyst consensus is a 'buy', with a mean target price of $244.97 based on 22 opinions.
About Astera Labs
Astera Labs, Inc. is a technology company specializing in semiconductor-based connectivity solutions. It serves the cloud and AI infrastructure sectors, particularly in Taiwan and the United States. The company offers a range of products, including high-speed connectivity solutions, smart DSP retimers, and smart fabric switches. With headquarters in San Jose, California, Astera Labs was founded in 2017 and is led by CEO Jitendra Mohan. The company employs 756 people.
Bottom Line
CalSTRS's reduction in Astera Labs is a small adjustment within its broader portfolio. The company remains a significant player in the semiconductor industry, attracting interest from various institutional investors. As always, remember that 13F filings reflect past positions and may not indicate current holdings.
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