Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $2,031,926.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 20,150 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.84, for a total value of $2,031,926.00. Following the completion of the transaction, the director now directly owns 432,854 shares of the company’s stock, valued at approximately $43,648,997.36. This trade represents a 4.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Manuel Alba also recently made the following trade(s):

• On Thursday, May 29th, Manuel Alba sold 600 shares of Astera Labs stock. The shares were sold at an average price of $100.00, for a total value of $60,000.00.
• On Wednesday, April 2nd, Manuel Alba sold 63,000 shares of Astera Labs stock. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00.

Astera Labs Price Performance

ALAB opened at $97.96 on Friday. The company has a market capitalization of $16.16 billion, a price-to-earnings ratio of 445.29, a P/E/G ratio of 4.21 and a beta of 1.39. The firm’s fifty day moving average price is $84.11 and its two-hundred day moving average price is $91.25. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The company had revenue of $159.44 million for the quarter, compared to analysts’ expectations of $151.55 million. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 144.1% compared to the same quarter last year. As a group, equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. Raymond James Financial assumed coverage on Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 target price for the company. Morgan Stanley raised Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a research note on Monday, May 12th. Barclays upped their price objective on Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Citigroup lowered their price objective on Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Evercore ISI upped their target price on Astera Labs from $87.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $100.00.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Astera Labs during the fourth quarter valued at approximately $43,000. Finally, Trifecta Capital Advisors LLC bought a new position in shares of Astera Labs during the fourth quarter valued at approximately $43,000. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.