Astera Labs (ALAB)


Market Price (10/23/2026): $256.92 | Market Cap: $44.3 BilSector: Information Technology | Industry: Semiconductors

Astera Labs (ALAB)


Market Price (10/23/2026): $256.92
Market Cap: $44.3 Bil
Sector: Information Technology
Industry: Semiconductors

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 98%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -55%

Megatrend and thematic drivers
Megatrends include Artificial Intelligence. Themes include Data Centers & Infrastructure, and AI Chips.

Expensive valuation multiples
P/SPrice/Sales ratio is 37x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 163x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 132x, P/EPrice/Earnings or Price/(Net Income) is 120x

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 16%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.6%

Key risks
ALAB key risks include [1] a high concentration of major cloud and server OEM customers who could develop in-house or alternative solutions, Show more.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 98%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 28%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 23%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -55%
3 Megatrend and thematic drivers
Megatrends include Artificial Intelligence. Themes include Data Centers & Infrastructure, and AI Chips.
4 Expensive valuation multiples
P/SPrice/Sales ratio is 37x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 163x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 132x, P/EPrice/Earnings or Price/(Net Income) is 120x
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 16%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -4.6%
7 Key risks
ALAB key risks include [1] a high concentration of major cloud and server OEM customers who could develop in-house or alternative solutions, Show more.

ALAB in ETFs

Weight = ALAB's share of each fund

VTI0.08%
ITOT0.06%
QQQ0.21%
QQQM0.22%
IWB0.06%
VUG0.18%
VO0.55%
SOXX2.3%
+25 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/22/2026

Astera Labs (ALAB) stock has lost about 45% since 6/30/2026 because of the following key factors:

1. Macroeconomic headwinds and broader sector sell-off impacted stock performance.

Astera Labs (ALAB) experienced a significant decline, partly due to broader market concerns. A hot inflation report on October 14, 2026, intensified bets on Federal Reserve rate hikes, causing a benchmark chip index to fall by 4.3% and ALAB to drop 7.7% on the same day. Furthermore, worries regarding "AI debt" among hyperscalers (neoclouds) led to an additional 5.3% decline for Astera Labs on October 16, 2026. These macroeconomic and industry-wide pressures contributed to a sector-wide sell-off, with ALAB's high beta (near 4) amplifying its losses during such periods.

2. Valuation concerns and an analyst downgrade contributed to negative sentiment.

The stock faced increased scrutiny over its valuation, reflected in a high trailing Price/Earnings (P/E) ratio of 167.87x, indicating investor expectations for substantial future growth. On October 9, 2026, Northland downgraded Astera Labs to "Market Perform" based on valuation concerns. This downgrade, along with a "Hold" rating, underscored an active debate around the company's valuation despite generally positive analyst sentiment (10 out of 21 analysts had a "Hold" rating, while 11 had a "Buy" rating in the last 12 months).

Show more
Updated on 10/22/2026

Astera Labs (ALAB) stock has lost about 45% since 6/30/2026 because of the following key factors:

1. Macroeconomic headwinds and broader sector sell-off impacted stock performance.

Astera Labs (ALAB) experienced a significant decline, partly due to broader market concerns. A hot inflation report on October 14, 2026, intensified bets on Federal Reserve rate hikes, causing a benchmark chip index to fall by 4.3% and ALAB to drop 7.7% on the same day. Furthermore, worries regarding "AI debt" among hyperscalers (neoclouds) led to an additional 5.3% decline for Astera Labs on October 16, 2026. These macroeconomic and industry-wide pressures contributed to a sector-wide sell-off, with ALAB's high beta (near 4) amplifying its losses during such periods.

2. Valuation concerns and an analyst downgrade contributed to negative sentiment.

The stock faced increased scrutiny over its valuation, reflected in a high trailing Price/Earnings (P/E) ratio of 167.87x, indicating investor expectations for substantial future growth. On October 9, 2026, Northland downgraded Astera Labs to "Market Perform" based on valuation concerns. This downgrade, along with a "Hold" rating, underscored an active debate around the company's valuation despite generally positive analyst sentiment (10 out of 21 analysts had a "Hold" rating, while 11 had a "Buy" rating in the last 12 months).

3. Substantial insider selling signaled cautious sentiment despite overall market optimism.

Over the ninety days ending in mid-October 2026, Astera Labs insiders engaged in significant selling activity, totaling approximately $64 million in net value through 105 exclusive sales transactions. In the past 12 months, insiders sold $779.4 million worth of shares with no reported insider purchases, suggesting a cautious outlook from key stakeholders even amidst positive analyst earnings expectations for the company. A large discretionary sale of $6.0 million was also recorded.

4. A notable decline in free cash flow (FCF) raised investor concerns.

Astera Labs' free cash flow for fiscal Q2 2026 (ended June 30, 2026) decreased by 49.6% year-over-year, generating $67.2 million compared to the same quarter in the prior year. This halving of free cash flow was highlighted as a primary risk, with expectations that fiscal Q3 2026 results would need to demonstrate an improvement in cash generation to alleviate investor worries. This decline occurred despite strong fiscal Q2 2026 revenue of $392.4 million, which was up 104% year-over-year.

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Stock Movement Drivers

Fundamental Drivers

The -46.6% change in ALAB stock from 6/30/2026 to 10/22/2026 was primarily driven by a -61.0% change in the company's P/E Multiple.
(LTM values as of)630202610222026Change
Stock Price ($)483.02257.82-46.6%
Change Contribution By: 
Total Revenues ($ Mil)1,0011,20220.0%
Net Income Margin (%)26.7%30.7%15.0%
P/E Multiple308.1120.3-61.0%
Shares Outstanding (Mil)171172-1.0%
Cumulative Contribution-46.6%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/22/2026
ReturnCorrelation
ALAB-46.6% 
Market (SPY)2.3%61.9%
Sector (XLK)-4.3%83.7%

Fundamental Drivers

The 135.2% change in ALAB stock from 3/31/2026 to 10/22/2026 was primarily driven by a 41.8% change in the company's P/E Multiple.
(LTM values as of)331202610222026Change
Stock Price ($)109.60257.82135.2%
Change Contribution By: 
Total Revenues ($ Mil)8531,20241.0%
Net Income Margin (%)25.7%30.7%19.6%
P/E Multiple84.8120.341.8%
Shares Outstanding (Mil)170172-1.6%
Cumulative Contribution135.2%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/22/2026
ReturnCorrelation
ALAB135.2% 
Market (SPY)17.8%53.5%
Sector (XLK)37.4%71.2%

Fundamental Drivers

The 31.7% change in ALAB stock from 9/30/2025 to 10/22/2026 was primarily driven by a 98.5% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510222026Change
Stock Price ($)195.80257.8231.7%
Change Contribution By: 
Total Revenues ($ Mil)6061,20298.5%
Net Income Margin (%)16.5%30.7%85.9%
P/E Multiple323.4120.3-62.8%
Shares Outstanding (Mil)165172-4.0%
Cumulative Contribution31.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/22/2026
ReturnCorrelation
ALAB31.7% 
Market (SPY)15.6%49.5%
Sector (XLK)29.9%65.9%

Fundamental Drivers

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Market Drivers

9/30/2023 to 10/22/2026
ReturnCorrelation
ALAB  
Market (SPY)84.8%46.6%
Sector (XLK)126.4%58.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ALAB Return---114%26%74%368%
Peers Return59%-11%67%76%46%47%805%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
ALAB Win Rate---60%50%40% 
Peers Win Rate67%48%62%57%52%44% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
ALAB Max Drawdown-----63%-48% 
Peers Max Drawdown-19%-42%-31%-37%-49%-43% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: AVGO, MRVL, CRDO, MCHP, RMBS.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/22/2026 (YTD)

How Low Can It Go

EventALABS&P 500
2025 US Tariff Shock
  % Loss-41.1%-18.8%
  % Gain to Breakeven69.8%23.1%
  Time to Breakeven40 days79 days
2024 Yen Carry Trade Unwind
  % Loss-36.1%-7.8%
  % Gain to Breakeven56.4%8.5%
  Time to Breakeven63 days18 days

Compare to AVGO, MRVL, CRDO, MCHP, RMBS

In The Past

Astera Labs's stock fell -41.1% during the 2025 US Tariff Shock. Such a loss loss requires a 69.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventALABS&P 500
2025 US Tariff Shock
  % Loss-41.1%-18.8%
  % Gain to Breakeven69.8%23.1%
  Time to Breakeven40 days79 days
2024 Yen Carry Trade Unwind
  % Loss-36.1%-7.8%
  % Gain to Breakeven56.4%8.5%
  Time to Breakeven63 days18 days

Compare to AVGO, MRVL, CRDO, MCHP, RMBS

In The Past

Astera Labs's stock fell -41.1% during the 2025 US Tariff Shock. Such a loss loss requires a 69.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Astera Labs (ALAB)

Astera Labs (ALAB) is a technology company specializing in semiconductor-based connectivity solutions for high-performance cloud and artificial intelligence (AI) infrastructure. The company's mission is to overcome critical data, network, and memory bottlenecks that arise in data-centric systems, enabling the efficient deployment and operation of large-scale AI and cloud computing environments. Astera Labs employs a patented software-defined platform approach to deliver robust connectivity performance, flexibility, observability, and predictive analytics, which is crucial for modern heterogeneous computing architectures incorporating GPUs and other AI accelerators.

The core offering is the "Intelligent Connectivity Platform," which comprises two main components: high-speed, mixed-signal connectivity products and the COSMOS software suite. The connectivity products are supplied in various form factors, including integrated circuits (ICs), boards, and modules. Key product families include Aries PCIe®/CXL™ Smart DSP Retimers, Taurus Ethernet Smart Cable Modules™, and Leo CXL Memory Connectivity Controllers, all built upon industry-standard protocols such as PCIe, Ethernet, and CXL. The COSMOS software suite is embedded within these products, allowing customers to seamlessly configure, manage, monitor, optimize, and customize their connectivity solutions.

Astera Labs primarily serves leading hyperscalers and system OEM customers, providing the essential connectivity backbone for major AI platforms deployed worldwide. The company's solutions address the global wired connectivity market, including PCIe and Ethernet, and the CXL memory connectivity controller market. With a significant number of design wins, Astera Labs is positioned to capture an increasing share of a total addressable market estimated to reach $27.4 billion by 2027, driven by the accelerating shift towards cloud-scale AI workloads and compute-intensive applications.

AI Analysis | Feedback

Astera Labs is like Mellanox (now part of NVIDIA), but specialized in the ultra-high-speed internal data and memory connections within AI and cloud data centers.

Alternatively, think of them as Rambus, but focused on next-generation PCIe and CXL memory and data connectivity controllers crucial for advanced AI and cloud infrastructure.

AI Analysis | Feedback

Astera Labs (ALAB) provides the following major products:

  • Aries PCIe®/CXL™ Smart DSP Retimers: These semiconductor products enhance signal integrity and extend the reach of PCIe and CXL interfaces in cloud and AI infrastructure.
  • Taurus Ethernet Smart Cable Modules™: These modules provide advanced Ethernet connectivity solutions, resolving network bottlenecks in high-performance cloud and AI data centers.
  • Leo CXL Memory Connectivity Controllers: These controllers manage and optimize CXL (Compute Express Link) memory connectivity, addressing memory bottlenecks within cloud and AI infrastructure.
  • COSMOS software suite: This software enables customers to configure, manage, monitor, and optimize the functions of Astera Labs' connectivity IC, board, and module products.

AI Analysis | Feedback

Astera Labs (ALAB) sells primarily to other companies. Its major customers can be categorized as:

  • Hyperscalers: These are large cloud service providers that deploy and operate high-performance cloud and AI infrastructure at scale. While no specific names of hyperscaler customers are provided, Astera Labs states it ships millions of devices across "all of the major hyperscalers."
  • System OEM (Original Equipment Manufacturer) customers: These are companies that build and supply systems for data centers.

Astera Labs also emphasizes "trusted relationships" and "collaboration" with leading data center infrastructure suppliers. This indicates these companies are either direct customers, integrating Astera Labs' connectivity solutions into their own offerings, or critical partners whose platforms incorporate Astera Labs' technology which is then sold to hyperscalers and system OEMs. These named companies include:

  • NVIDIA (NASDAQ: NVDA)
  • Advanced Micro Devices (NASDAQ: AMD)
  • Intel (NASDAQ: INTC)

AI Analysis | Feedback

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AI Analysis | Feedback

Jitendra Mohan, Chief Executive Officer

Jitendra Mohan is a co-founder of Astera Labs, establishing the company in 2017, and has served as its Chief Executive Officer and a member of the board of directors since November 2017. He led Astera Labs through a successful IPO in March 2024. Prior to co-founding Astera Labs, Mr. Mohan was the Product Line (General) Manager at Texas Instruments Inc. from March 2012 to October 2017. Before that, he held various technical leadership roles, including Design Director, at National Semiconductor Corporation from June 1996 to March 2012. He holds over 35 patents. Mr. Mohan co-founded Astera Labs with Sanjay Gajendra and Casey Morrison, having previously worked together at Texas Instruments.

Desmond Lynch, Chief Financial Officer

Desmond Lynch was appointed as Chief Financial Officer of Astera Labs, effective March 2, 2026. Before joining Astera Labs, he served as Senior Vice President, Finance and Chief Financial Officer of Rambus Inc. from August 2022 to February 2026. His experience also includes roles as Vice President of Finance and Investor Relations at Rambus from 2020 to 2022, and Vice President, Finance at Knowles Corporation from 2019 to 2020. Mr. Lynch also held financial leadership positions at Renesas Electronics Corporation/Integrated Device Technology, Inc. from 2016 to 2019, and was Director, Financial Planning and Analysis at Atmel Corporation from 2010 to 2016 before its acquisition by Microchip Technology. He is a Chartered Accountant with the Institute of Chartered Accountants of Scotland and holds a bachelor's degree in Accounting and Finance from the University of Glasgow, Scotland.

Sanjay Gajendra, President and Chief Operating Officer

Sanjay Gajendra is a co-founder of Astera Labs and has served as Chief Operating Officer and a member of the board of directors since November 2017, taking on the role of President in November 2023. He previously served as Chief Financial Officer and Treasurer of the company from November 2017 to July 2020. Prior to co-founding Astera Labs, Mr. Gajendra was a Product Line (General) Manager at Texas Instruments Inc. from July 2014 to October 2017. His background also includes various roles at National Semiconductor Corporation, including Product Manager, Principal Software Engineer, and Senior Software Engineer, as well as a Senior Software Engineer at Wipro Limited. Mr. Gajendra holds a Master of Engineering degree in Engineering Management from the University of Colorado Boulder. He co-founded Astera Labs with Jitendra Mohan and Casey Morrison, having worked together at Texas Instruments.

Casey Morrison, Chief Product Officer

Casey Morrison is a co-founder of Astera Labs. As Chief Product Officer, he is responsible for leading the product organization, which includes defining products and ensuring their seamless integration into customer systems. He co-founded Astera Labs with Jitendra Mohan and Sanjay Gajendra after their time working together at Texas Instruments.

Philip Mazzara, General Counsel & Secretary

Philip Mazzara serves as the General Counsel and Secretary for Astera Labs, where he oversees the company's legal and compliance functions. Before joining Astera Labs, he held the position of General Counsel and Secretary at Innovium, Inc., a company specializing in network switch silicon for the data center market. Mr. Mazzara earned both a JD and an MBA from Stanford Law School and the Stanford Graduate School of Business.

AI Analysis | Feedback

The key risks to Astera Labs' business are:
  1. Reliance on a rapidly evolving cloud and AI infrastructure market: Astera Labs' core business is purpose-built around providing semiconductor-based connectivity solutions specifically for cloud and AI infrastructure. While this market is experiencing significant growth, it is also highly dynamic with continuous technological advancements and architectural shifts. A slowdown in AI or cloud infrastructure investment, a shift in dominant computing paradigms, or the emergence of new technologies that address connectivity bottlenecks differently could significantly impact the demand for Astera Labs' specialized solutions.
  2. Customer concentration with leading hyperscalers and reliance on strategic partnerships: The company's success is deeply intertwined with its "trusted relationships with the leading hyperscalers" and collaborations with major data center infrastructure suppliers like NVIDIA, AMD, and Intel. While Astera Labs has achieved "more than 300 design wins" and ships to "all of the major hyperscalers," the number of these "major" customers is relatively limited. The loss of a significant hyperscaler customer or a shift in their technology preferences, procurement strategies, or preferred partners could have a substantial adverse effect on Astera Labs' revenue and market position.
  3. Intense competition and the need for continuous innovation: Astera Labs operates in the highly competitive semiconductor industry, focusing on critical connectivity components like PCIe, Ethernet, and CXL. While the company has introduced "first-to-market" products and employs a "patented software-defined platform," it faces competition from both established semiconductor giants and other innovative startups. The ability to maintain technological leadership, continuously innovate, and bring new products to market rapidly to address evolving customer needs and industry standards is crucial for sustained growth and market share against well-resourced competitors.

AI Analysis | Feedback

The clear emerging threat for Astera Labs is the potential for their major hyperscaler customers to vertically integrate and develop their own custom connectivity ASICs.

The company description states that hyperscalers "have adopted heterogeneous, 'accelerated computing' system architectures within their data centers, which include GPUs and other AI accelerators, such as TPUs, AI processors, custom ASICs, and FPGAs, to target specific workloads." This demonstrates that Astera Labs' primary customers possess the capability and strategic intent to design and deploy their own specialized silicon for critical data center functions. Should these hyperscalers extend this in-house chip design capability to the core connectivity components (such as PCIe/CXL retimers or CXL memory controllers) that Astera Labs currently supplies, it could directly reduce or eliminate the need for Astera Labs' products, similar to how major tech companies like Apple developed their own processors or how hyperscalers develop their own AI accelerators, diminishing reliance on third-party suppliers.

AI Analysis | Feedback

Astera Labs' Intelligent Connectivity Platform targets a global total addressable market (TAM) of $17.2 billion. This market includes the global wired connectivity market (PCIe and Ethernet) and the CXL memory connectivity controller market. Astera Labs anticipates this TAM will grow to $27.4 billion by 2027.

AI Analysis | Feedback

Astera Labs (ALAB) is poised for significant revenue growth over the next 2-3 years, driven by several key factors in the rapidly evolving data center and AI infrastructure markets:

  1. Surging Demand for AI and Cloud Infrastructure: Astera Labs is a critical enabler of high-performance AI and cloud infrastructure. The explosion in AI-related spending by major hyperscalers such as Google, AWS, and Microsoft is creating robust and structural demand for Astera Labs' connectivity solutions. The company's Q4 2025 results highlighted accelerating demand from U.S. hyperscalers for AI and cloud infrastructure solutions, with substantial new design wins and diversification across multiple customers. Analysts expect Astera Labs to grow substantially faster than its industry, with forecasted annualized revenue growth of 58% to the end of 2026.
  2. Expansion of Product Portfolio and Technology Leadership: The company is continuously expanding its Intelligent Connectivity Platform with new and advanced semiconductor-based solutions. This includes a focus on next-generation PCIe (e.g., PCIe 6.0), CXL (Compute Express Link), and advanced smart fabric switches like the Scorpio X-Series. Astera Labs is the first to market with a complete PCIe 6.0 solution set, including retimers, gearboxes, smart fabric switches, and optical modules. The shift from Aries retimers to Scorpio scale-up fabrics is expected to materially increase the dollar content per rack and enhance system lock-in. The expanded Scorpio X-Series roadmap includes new capabilities such as increased radix support, platform-specific protocols, in-network computing, Hypercast technology, and optical connectivity to enable multi-rack deployments for complex AI workloads.
  3. Growing Adoption of Advanced Connectivity Standards and Strategic Partnerships: Astera Labs is actively involved in the adoption and implementation of critical new industry standards such as CXL, PCIe 6.0, and Ultra Accelerator (UA) Link. The company's platform integrates these technologies along with Ethernet and NVLink. Its strategic partnerships and collaborations with leading data center infrastructure suppliers like NVIDIA, Advanced Micro Devices, Intel, and its involvement in the Arm Total Design ecosystem are crucial for driving the adoption of its solutions in next-generation AI platforms. These collaborations and first-to-market products have resulted in over 300 design wins.

AI Analysis | Feedback

Capital Allocation Decisions (Last 3-5 Years)

1. Share Repurchases

  • No significant share repurchases were reported; as of September 2025, Astera Labs had a 6-Month Share Buyback Ratio of -2.42%, indicating no buybacks or potential share issuance.

2. Share Issuance

  • Astera Labs completed its Initial Public Offering (IPO) in March 2024, selling 19,758,903 shares of common stock at $36.00 per share.
  • The IPO generated gross proceeds of approximately $819.7 million for the company.
  • Certain existing stockholders also sold 3,011,097 shares in the IPO.

3. Inbound Investments

  • Astera Labs raised $819.7 million in gross proceeds from its IPO in March 2024.
  • Prior to its public offering, Astera Labs had a private valuation of $3.15 billion in November 2022.
  • Institutional investors, including Vanguard Group Inc., State Street Corp, Geode Capital Management LLC, and Swiss National Bank, significantly increased their holdings in Astera Labs during 2025.

4. Outbound Investments

  • Astera Labs entered into a definitive agreement to acquire aiXscale Photonics GmbH.
  • The company utilized recent funding to establish two new international research and development centers in Canada, expand its workforce, and broaden its product lines.

5. Capital Expenditures

  • Capital expenditures for the fourth quarter of 2025 totaled $18.7 million, following $12.3 million in the third quarter of 2025, demonstrating ongoing investments in facilities or equipment.
  • Net cash used in investing activities was substantial in 2025, with figures of -$72.8 million in Q4, -$101.0 million in Q3, -$63.7 million in Q2, and -$3.97 million in Q1.

Peer Outperformance in Semiconductors

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Share of Semiconductors constituents that ALAB has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
80%
of 64 industry peers · 66.5% return
3Y
—
insufficient peer history
5Y
—
insufficient peer history
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Median price return by industry across the Information Technology sector, ranked by 5Y. Semiconductors is ALAB's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 10 28.0%131.9%209.6% FLEX 459% · TTMI 450% · JBL 341%
Technology Distributors 9 42.9%86.4%81.7% AVT 165% · SNX 151% · CNXN 115%
Communications Equipment 36 2.6%107.5%68.2% AAOI 808% · LITE 795% · ANET 601%
Semiconductor Materials & Equipment 28 45.4%65.1%60.7% AXTI 504% · KLAC 352% · LRCX 335%
Electronic Components 26 -0.7%67.4%39.5% CLS 2780% · BELFA 1108% · APH 285%
Semiconductors ← 54 4.2%34.9%26.6% MU 1199% · NVDA 838% · AVGO 585%
Technology Hardware, Storage & Peripherals 21 17.3%76.1%21.4% SMCI 855% · DELL 765% · STX 748%
Electronic Equipment & Instruments 27 -13.5%26.9%-7.5% PI 196% · OSIS 111% · CXT 78%
Internet Services & Infrastructure 6 4.3%53.0%-8.8% GDDY 65% · VRSN 42% · DOCN -2%
IT Consulting & Other Services 29 -20.8%4.1%-19.2% CHRN 406742% · APLD 315% · ADEA 151%
Application Software 126 -19.1%-8.3%-44.4% PLTR 703% · FROG 166% · AGYS 132%
Systems Software 69 -10.8%35.0%-53.8% ZETA 310% · CRWD 236% · FTNT 158%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ALABAVGOMRVLCRDOMCHPRMBSMedian
NameAstera L.Broadcom Marvell .Credo Te.Microchi.Rambus  
Mkt Price256.92322.16220.46161.6974.8285.32191.07
Mkt Cap44.31,535.4197.830.140.69.342.4
Rev LTM1,20289,1049,4501,5915,1227563,357
Op Inc LTM27343,2371,588505831272668
FCF LTM27739,4031,7234391,111300775
FCF 3Y Avg17627,6631,5511721,289252770
CFO LTM33640,6532,2005001,198333849
CFO 3Y Avg21128,4261,9092091,424281852

Growth & Margins

ALABAVGOMRVLCRDOMCHPRMBSMedian
NameAstera L.Broadcom Marvell .Credo Te.Microchi.Rambus  
Rev Chg LTM98.5%48.7%30.6%165.1%20.9%17.2%39.7%
Rev Chg 3Y Avg-36.2%20.5%122.3%-13.2%18.1%20.5%
Rev Chg Q104.5%85.5%36.5%114.7%38.0%20.4%61.8%
QoQ Delta Rev Chg LTM20.0%18.1%8.4%19.2%8.7%4.9%13.4%
Op Inc Chg LTM546.3%85.0%264.9%349.6%299.4%16.1%282.1%
Op Inc Chg 3Y Avg-45.6%96.3%246.6%55.6%55.0%55.6%
Op Mgn LTM22.8%48.5%16.8%31.7%16.2%35.9%27.2%
Op Mgn 3Y Avg-4.6%39.4%5.1%11.1%16.5%32.8%13.8%
QoQ Delta Op Mgn LTM0.4%4.5%0.4%-1.6%5.0%0.1%0.4%
CFO/Rev LTM27.9%45.6%23.3%31.4%23.4%44.0%29.7%
CFO/Rev 3Y Avg29.9%43.0%26.9%17.6%25.6%44.9%28.4%
FCF/Rev LTM23.0%44.2%18.2%27.6%21.7%39.6%25.3%
FCF/Rev 3Y Avg25.4%41.9%22.0%12.0%23.2%40.2%24.3%

Valuation

ALABAVGOMRVLCRDOMCHPRMBSMedian
NameAstera L.Broadcom Marvell .Credo Te.Microchi.Rambus  
Mkt Cap44.31,535.4197.830.140.69.342.4
P/S36.817.220.918.97.912.218.1
P/Op Inc162.035.5124.659.648.834.054.2
P/EBIT162.035.256.659.651.731.354.1
P/E119.940.174.955.984.838.665.4
P/CFO131.937.889.960.133.927.848.9
Total Yield0.8%3.3%1.4%1.8%3.6%2.6%2.2%
Dividend Yield0.0%0.8%0.1%0.0%2.4%0.0%0.1%
FCF Yield 3Y Avg0.5%2.1%1.7%0.4%2.8%3.0%1.9%
D/E0.00.00.00.00.10.00.0
Net D/E-0.00.00.0-0.00.1-0.1-0.0

Returns

ALABAVGOMRVLCRDOMCHPRMBSMedian
NameAstera L.Broadcom Marvell .Credo Te.Microchi.Rambus  
1M Rtn-29.3%-11.6%-16.0%-16.0%-1.3%-18.9%-16.0%
3M Rtn-21.4%-17.8%5.3%-31.6%-7.5%-17.3%-17.5%
6M Rtn30.1%-23.0%33.2%-12.9%-16.5%-38.4%-14.7%
12M Rtn65.9%-4.6%172.5%17.8%19.0%-9.7%18.4%
3Y Rtn314.2%286.0%353.5%1,011.3%8.5%55.4%300.1%
1M Excs Rtn-28.1%-8.6%-14.9%-16.0%-0.3%-16.9%-15.4%
3M Excs Rtn-15.2%-18.8%10.2%-27.5%-7.9%-14.5%-14.8%
6M Excs Rtn22.3%-30.7%25.6%-20.6%-24.3%-46.1%-22.4%
12M Excs Rtn49.4%-19.0%148.5%-1.5%-0.1%-26.2%-0.8%
3Y Excs Rtn239.3%201.4%244.0%880.8%-73.2%-30.1%220.3%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil2025202420232022
Product sales85339311278
Engineering services0342
Total85339611680


Price Behavior

Price Behavior
Market Price$257.82 
Market Cap ($ Bil)44.4 
First Trading Date03/20/2024 
Distance from 52W High-46.6% 
   50 Days200 Days
DMA Price$312.07$252.04
DMA Trenddownup
Distance from DMA-17.4%2.3%
 3M1YR
Volatility93.1%97.7%
Downside Capture464.79362.49
Upside Capture374.13383.97
Correlation (S&P 500)60.7%50.3%
ALAB Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta4.894.605.394.243.69-0.00
Up Beta12.397.3210.725.964.620.42
Down Beta11.984.973.773.532.510.29
Up Capture494%467%380%1152%1915%12411%
Bmk +ve Days6162766132424
Stock +ve Days13233172133330
Down Capture65%299%388%223%183%113%
Bmk -ve Days16263760120328
Stock -ve Days9193354119301

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ALAB
ALAB64.0%97.7%0.95-
Sector ETF (XLK)27.1%26.7%0.8666.9%
Equity (SPY)14.8%12.7%0.8051.3%
Gold (GLD)-2.2%28.4%-0.0919.3%
Commodities (DBC)52.1%20.7%1.91-5.7%
Real Estate (VNQ)4.7%13.9%0.08-6.2%
Bitcoin (BTCUSD)-22.4%43.4%-0.4725.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ALAB
ALAB32.7%94.0%1.00-
Sector ETF (XLK)19.6%26.0%0.6758.3%
Equity (SPY)13.0%17.1%0.5746.6%
Gold (GLD)17.1%18.9%0.7211.9%
Commodities (DBC)9.3%19.5%0.368.9%
Real Estate (VNQ)1.1%18.9%-0.053.0%
Bitcoin (BTCUSD)8.0%51.7%0.3321.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ALAB
ALAB15.2%94.0%1.00-
Sector ETF (XLK)23.9%25.1%0.8658.3%
Equity (SPY)15.4%17.9%0.7346.6%
Gold (GLD)11.9%16.4%0.5911.9%
Commodities (DBC)8.3%18.1%0.378.9%
Real Estate (VNQ)5.2%20.7%0.213.0%
Bitcoin (BTCUSD)63.0%66.2%1.0321.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity9.2 Mil
Short Interest: % Change Since 91520265.6%
Average Daily Volume4.1 Mil
Days-to-Cover Short Interest2.2 days
Basic Shares Quantity172.4 Mil
Short % of Basic Shares5.3%

Earnings Returns History

Updated 9/4/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/2026-12.0%-13.7%-24.2%
5/5/2026-0.8%-5.2%66.0%
2/10/2026-21.4%-29.1%-34.4%
11/4/20251.5%-6.6%-10.1%
8/5/202528.7%41.7%38.7%
5/6/2025-0.4%23.0%27.1%
2/10/2025-10.9%-9.7%-33.4%
11/4/202437.7%32.4%65.5%
...
SUMMARY STATS   
# Positive334
# Negative776
Median Positive28.7%32.4%52.1%
Median Negative-10.9%-6.6%-20.8%
Max Positive37.7%41.7%66.0%
Max Negative-21.4%-29.1%-34.4%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/2026-12.0%-13.7%-24.2%
5/5/2026-0.8%-5.2%66.0%
2/10/2026-21.4%-29.1%-34.4%
11/4/20251.5%-6.6%-10.1%
8/5/202528.7%41.7%38.7%
5/6/2025-0.4%23.0%27.1%
2/10/2025-10.9%-9.7%-33.4%
11/4/202437.7%32.4%65.5%
8/6/2024-14.4%-4.9%-1.9%
5/7/2024-9.1%-5.1%-17.3%
SUMMARY STATS   
# Positive334
# Negative776
Median Positive28.7%32.4%52.1%
Median Negative-10.9%-6.6%-20.8%
Max Positive37.7%41.7%66.0%
Max Negative-21.4%-29.1%-34.4%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/06/202610-Q
12/31/202502/20/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202402/14/202510-K
09/30/202411/05/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202303/21/2024424B4
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/06/202610-Q
12/31/202502/20/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202402/14/202510-K
09/30/202411/05/202410-Q
06/30/202408/07/202410-Q
03/31/202405/08/202410-Q
12/31/202303/21/2024424B4

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 8/4/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 RevenueReported540.00 Mil550.00 Mil560.00 Mil52.8% Higher NewGuidance: 360.00 Mil for Q2 2026
Q3 2026 Gross ProfitCalculated388.80 Mil396.00 Mil403.20 Mil  Rev x Gross Margin
Q3 2026 GAAP Gross MarginReported 72.0%  -1.0%Lower NewGuidance: 73.0% for Q2 2026
Q3 2026 Non-GAAP Gross MarginReported 72.0%  -1.0%Lower NewGuidance: 73.0% for Q2 2026
Q3 2026 GAAP Operating ExpensesReported232.00 Mil234.00 Mil236.00 Mil23.5% Higher NewGuidance: 189.50 Mil for Q2 2026
Q3 2026 Non-GAAP Operating ExpensesReported156.00 Mil158.00 Mil160.00 Mil22.0% Higher NewGuidance: 129.50 Mil for Q2 2026
Q3 2026 GAAP Tax RateReported 4.0%  3.0%Higher NewGuidance: 1.0% for Q2 2026
Q3 2026 Non-GAAP Tax RateReported 12.0%  0.0%Same NewGuidance: 12.0% for Q2 2026
Q3 2026 GAAP Diluted EPSReported0.870.90.9298.9% Higher NewGuidance: 0.45 for Q2 2026
Q3 2026 Non-GAAP Diluted EPSReported1.161.191.2171.7% Higher NewGuidance: 0.69 for Q2 2026


Prior: Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 RevenueReported355.00 Mil360.00 Mil365.00 Mil23.5% Higher NewGuidance: 291.50 Mil for Q1 2026
Q2 2026 Gross ProfitCalculated259.15 Mil262.80 Mil266.45 Mil  Rev x Gross Margin
Q2 2026 GAAP Gross MarginReported 73.0%  -1.0%Lower NewGuidance: 74.0% for Q1 2026
Q2 2026 Non-GAAP Gross MarginReported 73.0%    
Q2 2026 GAAP Operating ExpensesReported188.00 Mil189.50 Mil191.00 Mil19.9% Higher NewGuidance: 158.00 Mil for Q1 2026
Q2 2026 Non-GAAP Operating ExpensesReported128.00 Mil129.50 Mil131.00 Mil   
Q2 2026 Operating IncomeCalculated128.15 Mil133.30 Mil138.45 Mil  Rev x Gross Margin - Opex
Q2 2026 Operating MarginCalculated36.1%37.03%37.93%  Implied by guided Rev/GM/Opex
Q2 2026 GAAP Tax RateReported 1.0%    
Q2 2026 Non-GAAP Tax RateReported 12.0%    
Q2 2026 GAAP EPSReported0.440.450.4621.6% Higher NewGuidance: 0.37 for Q1 2026
Q2 2026 Non-GAAP EPSReported0.680.690.729.0% Higher NewGuidance: 0.54 for Q1 2026

Q4 2025 Earnings Reported 2/10/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 RevenueReported286.00 Mil291.50 Mil297.00 Mil17.1% Higher NewActual: 249.00 Mil for Q4 2025
Q1 2026 Gross ProfitCalculated211.64 Mil215.71 Mil219.78 Mil  Rev x Gross Margin
Q1 2026 GAAP Gross MarginReported 74.0%  -1.0%Lower NewActual: 75.0% for Q4 2025
Q1 2026 GAAP Operating ExpensesReported155.00 Mil158.00 Mil161.00 Mil20.2% Higher NewActual: 131.50 Mil for Q4 2025
Q1 2026 Operating IncomeCalculated50.64 Mil57.71 Mil64.78 Mil  Rev x Gross Margin - Opex
Q1 2026 Operating MarginCalculated17.71%19.8%21.81%  Implied by guided Rev/GM/Opex
Q1 2026 GAAP EPSReported0.360.370.3885.0% Higher NewActual: 0.2 for Q4 2025
Q1 2026 Non-GAAP EPSReported0.530.540.544.9% Higher NewActual: 0.51 for Q4 2025

Q3 2025 Earnings Reported 11/4/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2025 RevenueReported245.00 Mil249.00 Mil253.00 Mil20.6% Higher NewGuidance: 206.50 Mil for Q3 2025
Q4 2025 Gross ProfitCalculated183.75 Mil186.75 Mil189.75 Mil  Rev x Gross Margin
Q4 2025 GAAP Gross MarginReported 75.0%  0.0%Same NewGuidance: 75.0% for Q3 2025
Q4 2025 GAAP Operating ExpensesReported129.00 Mil131.50 Mil134.00 Mil11.4% Higher NewGuidance: 118.00 Mil for Q3 2025
Q4 2025 Non-GAAP Operating ExpensesReported85.00 Mil87.50 Mil90.00 Mil12.2% Higher NewGuidance: 78.00 Mil for Q3 2025
Q4 2025 Operating IncomeCalculated93.75 Mil99.25 Mil104.75 Mil  Rev x Gross Margin - Opex
Q4 2025 Operating MarginCalculated38.27%39.86%41.4%  Implied by guided Rev/GM/Opex
Q4 2025 GAAP EPSReported 0.2 -14.9% Lower NewGuidance: 0.24 for Q3 2025
Q4 2025 Non-GAAP EPSReported 0.51 32.5% Higher NewGuidance: 0.39 for Q3 2025

Insider Activity

Updated 10/9/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Dyckerhoff, Stefan ADirectSell10092026376.063,5051,318,09017,681,965Form
2Dyckerhoff, Stefan ATrustSell10092026376.068,3333,133,708107,703,584Form
3Dyckerhoff, Stefan ALimited Partnership (TF)Sell10092026376.06661248,576995,807Form
4Dyckerhoff, Stefan ADirectSell9032026274.963,505963,74413,873,518Form
5Dyckerhoff, Stefan ATrustSell9032026274.968,3332,291,26081,040,427Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Dyckerhoff, Stefan ADirectSell10092026376.063,5051,318,09017,681,965Form
2Dyckerhoff, Stefan ATrustSell10092026376.068,3333,133,708107,703,584Form
3Dyckerhoff, Stefan ALimited Partnership (TF)Sell10092026376.06661248,576995,807Form
4Dyckerhoff, Stefan ADirectSell9032026274.963,505963,74413,873,518Form
5Dyckerhoff, Stefan ATrustSell9032026274.968,3332,291,26081,040,427Form
6Dyckerhoff, Stefan ALimited Partnership (TF)Sell9032026274.96661181,749909,844Form
7Alba, Manuel Alba TrustSell9032026280.13150,00042,019,449315,005,239Form
8Alba, Manuel Casa Alameda 2007, LLCSell9032026280.1333,0009,244,24771,114,310Form
9Gajendra, SanjayPresident and COODirectSell8192026340.3590,63030,846,356380,869,961Form
10Mazzara, PhilipGeneral Counsel and SecretaryDirectSell8192026340.506,8012,315,75432,872,741Form
11Mohan, JitendraChief Executive OfficerDirectSell8192026340.3590,63030,846,356431,115,520Form
12Dyckerhoff, Stefan ADirectSell8102026311.833,5051,092,97216,826,776Form
13Dyckerhoff, Stefan ATrustSell8102026311.838,3332,598,49494,505,619Form
14Dyckerhoff, Stefan ALimited Partnership (TF)Sell8102026311.83661206,1211,237,972Form
15Alba, Manuel Casa Alameda 2007, LLCSell7062026458.388,4913,892,091131,491,807Form
16Alba, Manuel Alba TrustSell7062026463.4713,0266,037,135590,689,122Form
17Alba, Manuel Casa Alameda 2007, LLCSell7062026438.8424,50910,755,607129,614,077Form
18Alba, Manuel Alba TrustSell7062026442.01136,97460,543,455569,094,511Form
19Dyckerhoff, Stefan ADirectSell7022026450.003,5051,577,25025,859,700Form
20Dyckerhoff, Stefan ATrustSell7022026450.008,3333,749,850140,129,550Form
21Dyckerhoff, Stefan ALimited Partnership (TF)Sell7022026450.00661297,4502,083,950Form
22Mayer, Bethany DirectSell6262026395.04686270,9992,192,484Form
23Lazar, Jack R DirectSell6082026355.1710,0003,551,67926,881,945Form
24Dyckerhoff, Stefan ADirectSell6052026364.353,5051,277,04221,909,744Form
25Dyckerhoff, Stefan ATrustSell6052026364.358,3333,036,119116,493,984Form
26Dyckerhoff, Stefan ALimited Partnership (TF)Sell6052026364.35661240,8351,928,135Form
27Gajendra, SanjayPresident and COOTrust 1Sell5262026290.30400,000116,119,9661,470,140,610Form
28Mazzara, PhilipGeneral Counsel and SecretaryDirectSell5262026291.03796231,65630,075,407Form
29Mohan, JitendraChief Executive OfficerLiving TrustSell5202026249.6228,7377,173,408945,878,391Form
30Gajendra, SanjayPresident and COODirectSell5202026225.0295,44421,476,949323,098,644Form
31Mazzara, PhilipGeneral Counsel and SecretaryDirectSell5202026231.7814,0763,262,54024,137,370Form
32Mohan, JitendraChief Executive OfficerDirectSell5202026225.0295,44421,476,949305,420,508Form
33Mohan, JitendraChief Executive OfficerLiving TrustSell5202026216.89111,21424,121,604828,093,005Form
34Gajendra, SanjayPresident and COOTrust 2Sell5112026202.719,3611,897,590132,776,598Form
35Gajendra, SanjayPresident and COOTrust 3Sell5112026198.3940,0007,935,704129,947,156Form
36Gajendra, SanjayPresident and COOTrust 1Sell5112026198.39200,00039,678,6051,123,740,339Form
37Gajendra, SanjayPresident and COOTrust 2Sell5112026197.0730,6396,038,126130,927,750Form
38Mohan, JitendraChief Executive OfficerLiving TrustSell5112026200.16139,95128,013,250786,483,738Form
39Dyckerhoff, Stefan ADirectSell5112026200.033,505701,11512,729,882Form
40Dyckerhoff, Stefan ATrustSell5112026200.038,3331,666,87565,623,814Form
41Dyckerhoff, Stefan ALimited Partnership (TF)Sell5112026200.03661132,2221,190,799Form
42Mohan, JitendraChief Executive OfficerLiving TrustSell4212026175.4510,1881,787,442713,912,416Form
43Dyckerhoff, Stefan ADirectSell4212026175.123,757657,92611,758,257Form
44Dyckerhoff, Stefan ATrustSell4212026175.128,9331,564,34758,910,018Form
45Dyckerhoff, Stefan ALimited Partnership (TF)Sell4212026175.12709124,1601,158,244Form
46Mohan, JitendraChief Executive OfficerLiving TrustSell4212026172.14325,69356,065,343702,221,382Form
47Dyckerhoff, Stefan ADirectSell4212026175.003,253569,27512,407,675Form
48Dyckerhoff, Stefan ATrustSell4212026175.007,7331,353,27560,432,925Form
49Dyckerhoff, Stefan ALimited Partnership (TF)Sell4212026175.00613107,2751,281,525Form
50Mohan, JitendraChief Executive OfficerLiving TrustSell4162026174.602,967518,036769,112,664Form
51Mohan, JitendraChief Executive OfficerLiving TrustSell4142026149.68123,75018,522,445659,770,551Form
52Alba, Manuel Alba TrustSell4032026107.61150,00016,142,131153,296,226Form
53Alba, Manuel Casa Alameda 2007, LLCSell4032026107.6133,0003,551,26534,421,769Form
54Mazzara, PhilipGeneral Counsel and SecretaryDirectSell4032026107.7710,0001,077,66312,725,474Form
55Lazar, Jack R DirectSell3172026130.002,500325,00011,030,630Form
56Lazar, Jack R DirectSell3092026119.807,500898,47210,464,319Form
57Mazzara, PhilipGeneral Counsel and SecretaryDirectSell3042026117.4710,0001,174,74115,046,547Form
58Gajendra, SanjayPresident and COODirectSell2192026123.8194,97111,758,146189,586,932Form
59Mohan, JitendraChief Executive OfficerDirectSell2192026123.8194,97111,758,146179,860,348Form
60Tate, Michael TruettChief Financial OfficerDirectSell2192026123.8112,0011,485,78423,780,846Form
61Mazzara, PhilipGeneral Counsel and SecretaryDirectSell2192026123.804,849600,32817,095,409Form
62Mazzara, PhilipGeneral Counsel and SecretaryDirectSell1062026178.4110,0001,784,07124,448,909Form
63Alba, Manuel Casa Alameda 2007, LLCSell12032025166.1833,0005,483,98158,639,207Form
64Alba, Manuel Alba TrustSell12032025166.18150,00024,927,221261,652,401Form
65Lazar, Jack R DirectSell11212025149.552,500373,87314,184,902Form
66Mazzara, PhilipGeneral Counsel and SecretaryDirectSell11192025144.694,620668,47721,275,497Form
67Tate, Michael TruettChief Financial OfficerDirectSell11192025144.6911,4301,653,85927,824,336Form
68Gajendra, SanjayPresident and COODirectSell11192025144.6990,45913,088,904231,474,746Form
69Mohan, JitendraChief Executive OfficerDirectSell11192025144.6990,45913,088,904301,024,677Form
70Mazzara, PhilipGeneral Counsel and SecretaryDirectSell10032025192.1610,0001,921,57229,125,846Form

Investor Activity (13F)

Updated Oct 23, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Tensor Edge Capital, LLC$25.0 Mil4.3%17ADD +246.1%13F
Strategy Capital LLC$38.6 Mil3.2%11New13F
Estuary Capital Management LP$18.7 Mil3.1%22New13F
E20 Capital Ltd$33.3 Mil3.1%22New13F
Analog Century Management LP$55.3 Mil2.6%25ADD +63.2%13F
Greenhouse Funds LLLP$38.9 Mil1.8%28ADD +13.0%13F
KADENSA CAPITAL Ltd$12.8 Mil1.8%39TRIM -5.1%13F
Amazon Com Inc$30.4 Mil1.2%5Hold13F
FengHe Fund Management Pte. Ltd.$8.1 Mil1.1%31TRIM -38.6%13F
Shannon River Fund Management LLC$5.2 Mil1.0%28TRIM -71.7%13F
Anther Capital Ltd$25.3 Mil0.7%31New13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Strategy Capital LLC$38.6 Mil3.2%11New13F
E20 Capital Ltd$33.3 Mil3.1%22New13F
Anther Capital Ltd$25.3 Mil0.7%31New13F
Estuary Capital Management LP$18.7 Mil3.1%22New13F
Tensor Edge Capital, LLC$25.0 Mil4.3%17ADD +246.1%13F
Analog Century Management LP$55.3 Mil2.6%25ADD +63.2%13F
Greenhouse Funds LLLP$38.9 Mil1.8%28ADD +13.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
WT Asset Management Ltd$15.4 Mil0.6%42ExitedDec 31, 202513F
Deepwater Asset Management, LLC$8.6 Mil2.5%46ExitedDec 31, 202513F
Shannon River Fund Management LLC$5.2 Mil1.0%28TRIM -71.7%Mar 31, 202613F
FengHe Fund Management Pte. Ltd.$8.1 Mil1.1%31TRIM -38.6%Mar 31, 202613F
KADENSA CAPITAL Ltd$12.8 Mil1.8%39TRIM -5.1%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Analog Century Management LP$55.3 Mil2.6%25ADD +63.2%13F
Greenhouse Funds LLLP$38.9 Mil1.8%28ADD +13.0%13F
Strategy Capital LLC$38.6 Mil3.2%11New13F
E20 Capital Ltd$33.3 Mil3.1%22New13F
Amazon Com Inc$30.4 Mil1.2%5Hold13F
Anther Capital Ltd$25.3 Mil0.7%31New13F
Tensor Edge Capital, LLC$25.0 Mil4.3%17ADD +246.1%13F
Estuary Capital Management LP$18.7 Mil3.1%22New13F
KADENSA CAPITAL Ltd$12.8 Mil1.8%39TRIM -5.1%13F
FengHe Fund Management Pte. Ltd.$8.1 Mil1.1%31TRIM -38.6%13F
Shannon River Fund Management LLC$5.2 Mil1.0%28TRIM -71.7%13F
Core Cache Last Updated: 10/22/2026