Astera Labs posts 93% revenue surge as insider sells shares and investors increase stakes

Director Manuel Alba of Astera Labs sold 8,491 shares on July 1, 2026 at an average price of $458.38 under a Rule 10b5‑1 plan, reducing his holdings by less than 3% while still controlling roughly 292,000 shares held mainly through an LLC. The company, headquartered in Santa Clara, reported first‑quarter revenue of $308.36 million, a 93% year‑over‑year increase, driven by demand for its AI and cloud connectivity products, and has a market capitalization of about $70 billion.

Institutional investors are also expanding positions. Warm Springs Advisors bought 26,535 shares valued at roughly $2.9 million, adding to a portfolio where Astera Labs represents 2.5% of assets. Several other funds and banks increased stakes, while analysts upgraded ratings and raised price targets, with Bank of America lifting its objective to $450 per share.