Manuel Alba Sells 63,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the completion of the transaction, the director now owns 506,863 shares in the company, valued at $25,343,150. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The shares were sold at an average price of $50.32, for a total transaction of $1,861,840.00.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $52.10 on Thursday. The business’s 50-day moving average price is $43.98. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Astera Labs, Inc. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently bought and sold shares of ALAB. Amalgamated Bank purchased a new position in shares of Astera Labs in the second quarter valued at $74,000. Newbridge Financial Services Group Inc. lifted its holdings in Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after buying an additional 2,980 shares in the last quarter. Legato Capital Management LLC purchased a new position in Astera Labs in the 2nd quarter valued at about $207,000. Alpine Global Management LLC acquired a new stake in shares of Astera Labs during the first quarter valued at about $272,000. Finally, Strategic Blueprint LLC purchased a new stake in shares of Astera Labs during the second quarter worth about $332,000.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Barclays dropped their target price on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price target for the company in a report on Wednesday, September 4th. Finally, Needham & Company LLC cut their price objective on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $71.36.

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.