This report is an updated version of the report published on 9 February 2026 at 1:09 AM PT

Astera Labs, Inc.

Astera Labs, Inc. (NASDAQ: ALAB) is a global semiconductor company.

Recommendation Rationale – Sell at USD 187.67

• ALAB is exposed to the risks related to adverse changes in the political, regulatory as well as economic policies of governments associated with trade with China and Chinese customers that could impact the company’s business.
• In Q4 FY 2025, the company’s total operating expenses witnessed an increase to $137.5 Mn compared to $104.3 Mn in Q4 FY 2024, amidst significant increase in the research and development expenses.
• Notably, a significant portion of ALAB’s revenue comes from a limited number of the end customers, and the loss or reduction in the demand from one or a few of these customers could impact its financial condition.
• ALAB’s share price is trading close to its R2 level recommended on February 4, 2026. Therefore, there can be a possible decline from the specified resistance levels.

ALAB’s Daily Price Chart

Fundamental Valuation

Considering the increasing volatility over global equity market, inflationary pressures, geopolitical tensions, etc. the company’s stock might trade at slight discount. For the valuation, peers such as Rambus Inc (NASDAQ: RMBS), Palantir Technologies Inc (NASDAQ: PLTR), etc. were considered.

Given its current trading levels, and risks associated, it is prudent to book profit at the current levels.

Hence, a ‘Sell’ rating has been provided on the stock at the closing price of USD 187.67 per share, up by 10.49% as on 9 February 2026.

Astera Labs, Inc. (NASDAQ: ALAB) is part of Kalkine’s Global Big Money Report.

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 9 February 2026. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.