# Astera Labs (ALAB.US)

Canonical: https://gigainvestors.com/s/ALAB

Analysis as of: 2026-10-16T07:26:21.084Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $301.98 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Lee Ainslie](https://gigainvestors.com/mc): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 37% since Jun 2026 · "Astera Labs Tops Targets, But Stock Drops On Margin Concerns" (finance.yahoo.com, Nov 2025)

Story as of 2026-10-16T09:58:16.058Z; price observation 2026-10-15.

- 2025-05-07: Astera Labs (NasdaqGS:ALAB) Sees Q1 Revenue Jump To US$159M With Positive Earnings Guidance ([finance.yahoo.com](https://finance.yahoo.com/news/astera-labs-nasdaqgs-alab-sees-182300181.html))

- 2025-07-22: Astera Labs (ALAB) Soars 19% As AI Boom Boosts Q2 Earnings Expectations ([finance.yahoo.com](https://finance.yahoo.com/news/astera-labs-alab-soars-19-194215635.html))

- 2025-08-06: Astera Labs soars 28% following Q2 revenue surge on AI data center demand ([seekingalpha.com](https://seekingalpha.com/news/4480290-astera-labs-soars-28-following-q2-revenue-surge-on-ai-data-center-demand?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news))

- 2025-11-04: Astera Labs Tops Targets, But Stock Drops On Margin Concerns ([finance.yahoo.com](https://finance.yahoo.com/m/e0de0dfd-2872-311d-a737-4ab1fccd34fb/astera-labs-tops-targets%2C-but.html))

- 2026-05-20: Astera Labs shares jump on 93% revenue growth on AI demand surge ([finance.yahoo.com](https://finance.yahoo.com/markets/stocks/articles/astera-labs-shares-jump-93-181659571.html))

- 2026-06-10: ALAB Rides on Strong AI Infrastructure Demand: A Sign for More Upside? ([finance.yahoo.com](https://finance.yahoo.com/sectors/technology/articles/alab-rides-strong-ai-infrastructure-171500478.html))

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in semiconductors; annual sales are USD 852.5 million.

- Source: https://eodhd.com/api/fundamentals/ALAB.US.json#2025-12-31 (filed 2026-02-20); FY2025: revenue 852525000; grossProfit 645261000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); ALAB.US: Astera Labs, Inc. designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure in Taiwan and the United States. It offers an intelligent connectivity platform, comprised of semiconductor-based, high-speed, mixed-signal connectivity products that integrate a matrix of microcontrollers and sensors, and COSMOS. The company provides COSMOS software suite, a connectivity system management and optimization software that enables management and optimization of resources for large fleets at cloud-scale via link, fleet, and RAS management capabilities. In addition, it offers PCIe/CXL smart DSP retimers and cable modules; ethernet smart cable modules for cloud and AI infrastructure; CXL memory connectivity controllers; and smart fabric switches. The company serves hyperscalers and system original equipment manufacturers. Astera Labs, Inc. was incorporated in 2017 and is based in San Jose, California.

### Why customers stay

Margins ranged from 68.9% to 76.4% during 2023–25.

- Source: https://eodhd.com/api/fundamentals/ALAB.US.json#2023-12-31 (filed 2026-02-20); FY2023: grossProfit / revenue = 68.9%.

- Source: https://eodhd.com/api/fundamentals/ALAB.US.json#2024-12-31 (filed 2026-02-20); FY2024: grossProfit / revenue = 76.4%.

- Source: https://eodhd.com/api/fundamentals/ALAB.US.json#2025-12-31 (filed 2026-02-20); FY2025: grossProfit / revenue = 75.7%.

### Where the cash goes

Reinvests 27.2% of cash earnings; paid no dividends in 4 years.

- Source: https://eodhd.com/api/fundamentals/ALAB.US.json#2025-12-31 (filed 2026-02-20); FY2025: growth capex 30715000; upkeep 6829000; cash acquisitions 28786000; owner earnings 219134000. Growth capex plus acquisitions / owner earnings = 0.2715279235536247.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-20); Dividend observations: [[2022,0],[2023,0],[2024,0],[2025,0]]. Zero only counted when supported by a complete cash-flow statement.

### Are managers owners

Insiders own 10.3% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-16); ALAB.US SharesStats.PercentInsiders = 10.318 percentage points; cache date 2026-10-16.

### What could break it

Restrictions on exports to China could cut sales.

- Source: https://www.sec.gov/Archives/edgar/data/1736297/000173629726000010/alab-20251231.htm (filed 2026-02-20); ls. For example, the U.S. Department of Commerce continues to add Chinese firms to the Entity List. These export restrictions, which would require that we obtain licenses from the U.S. Department of Commerce to allow us to export products to such listed firms, will likely limit or prevent us from doing business with certain potential customers or potential suppliers. These restrictive governmental actions and any similar measures that may be imposed on U.S. companies by other governments, especially in light of ongoing trade tensions between the United States and other countries, particularly China, could limit our ability to conduct business globally.

See the section titled “Risk Factors” for additional information regarding risks we face related to government regulation.

Available Information

Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, including exhibits, and amendments to reports filed pursuant to Sections 13(a) and 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), are filed with the U.S. Securities and Exchange Commission (the “SEC”). We are subject to the informational requirements of the Exchange Act and file or furnish reports, proxy statements, and other information with the SEC. Such reports and other information filed by us with the SEC are available free of charge on our website at https://asteralabs.gcs-web.com/financials/sec-filings when such reports are available on the SEC's website. We use https://asteralabs.gcs-web.com/news-events/news-releases as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.

The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC at www.sec.gov. The contents of the websites referred to above are not incorporated into this filing. Further, our references to the URLs for these websites are intended to be inactive textual references only.

5

Table of Contents

### What the price says

The price is 63.6 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-02-20); Closing price 301.98 USD; reporting-to-trading FX 1; FY2025 annual sales per share 4.748093856341653; price multiple 63.60025920647488. FY2025 cash earnings/share 1.220455469476639. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2024-03: $74.19 per share

- 2024-04: $84.76 per share

- 2024-05: $64.54 per share

- 2024-06: $60.51 per share

- 2024-07: $43.84 per share

- 2024-08: $43.06 per share

- 2024-09: $52.39 per share

- 2024-10: $70.16 per share

- 2024-11: $103.25 per share

- 2024-12: $132.45 per share

- 2025-01: $101.42 per share

- 2025-02: $74.35 per share

- 2025-03: $59.67 per share

- 2025-04: $65.31 per share

- 2025-05: $90.72 per share

- 2025-06: $90.42 per share

- 2025-07: $136.73 per share

- 2025-08: $182.20 per share

- 2025-09: $195.80 per share

- 2025-10: $186.68 per share

- 2025-11: $157.57 per share

- 2025-12: $166.36 per share

- 2026-01: $150.62 per share

- 2026-02: $118.83 per share

- 2026-03: $109.60 per share

- 2026-04: $194.74 per share

- 2026-05: $342.85 per share

- 2026-06: $483.02 per share

- 2026-07: $311.23 per share

- 2026-08: $296.98 per share

- 2026-09: $355.97 per share

- 2026-10: $325.41 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

Prior published observations retained from 2026-10-15T06:31:56.929Z where newer inputs omit a numeric field or fiscal period.

## Sources

[Original 10-K filing](https://www.sec.gov/Archives/edgar/data/1736297/000173629726000010/alab-20251231.htm); period 2025-12-31, filed 2026-02-20.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.