Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $185,070.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Jack R. Lazar sold 3,000 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the sale, the director now owns 137,000 shares of the company’s stock, valued at $8,451,530. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Astera Labs Price Performance

Shares of Astera Labs stock traded up $0.58 on Friday, reaching $66.69. The company had a trading volume of 7,626,336 shares, compared to its average volume of 2,695,375. The firm’s 50-day moving average price is $45.36 and its two-hundred day moving average price is $58.66. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $95.21.

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

Analysts Set New Price Targets

ALAB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Morgan Stanley lifted their price target on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday. Barclays dropped their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus reduced their target price on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Craig Hallum dropped their price target on Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $73.09.

Institutional Trading of Astera Labs

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Astera Labs during the first quarter valued at approximately $18,666,000. Amazon Com Inc. bought a new position in Astera Labs in the 1st quarter valued at $20,608,000. Capstone Investment Advisors LLC purchased a new stake in Astera Labs in the first quarter worth $4,629,000. Jennison Associates LLC bought a new stake in shares of Astera Labs during the first quarter worth $11,283,000. Finally, Peregrine Asset Advisers Inc. purchased a new stake in shares of Astera Labs during the first quarter valued at $2,515,000.

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.