Astera Labs attracts fresh institutional buying as shares rally

Several institutional investors increased their stakes in Astera Labs (NASDAQ:ALAB) during the first quarter. OP Asset Management Ltd bought 13,785 shares worth about $1.5 million, while Banque Cantonale Vaudoise raised its holding by 85.9% to roughly $766,000. Other new positions came from Legal Advantage Investments, Wealth Management Partners, Buffalo Business & Estate Services and BI Asset Management Fondsmaeglerselskab, together accounting for a sizable portion of the stock owned by hedge funds and institutions.

Analyst coverage was mixed: Susquehanna lifted its price target to $230, Citi downgraded the rating to “market perform,” Evercore kept an “outperform” view with a $297 target, and RBC raised its target to $270. Overall consensus is a “Moderate Buy” with a $265.75 target. Insider selling continued, with director Stefan Dyckerhoff and director Bethany Mayer together offloading over 4,200 shares valued at roughly $1.55 million in June. The stock rose 16.4% following the activity.