Jitendra Mohan Sells 173,366 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 173,366 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $110.12, for a total value of $19,091,063.92. Following the transaction, the chief executive officer now directly owns 600,000 shares of the company’s stock, valued at $66,072,000. The trade was a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Jitendra Mohan also recently made the following trade(s):

• On Thursday, November 21st, Jitendra Mohan sold 171,064 shares of Astera Labs stock. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92.
• On Friday, October 11th, Jitendra Mohan sold 47,667 shares of Astera Labs stock. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42.

Astera Labs Price Performance

ALAB stock traded down $5.88 on Wednesday, reaching $99.60. The company had a trading volume of 5,209,101 shares, compared to its average volume of 3,190,953. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $113.85. The company’s fifty day moving average is $72.05 and its 200 day moving average is $60.30.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, sell-side analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Astera Labs

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new stake in shares of Astera Labs in the third quarter valued at $26,000. US Bancorp DE acquired a new stake in Astera Labs during the third quarter worth about $46,000. First Horizon Advisors Inc. bought a new position in Astera Labs during the third quarter worth about $49,000. Allworth Financial LP lifted its stake in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares during the period. Finally, Amalgamated Bank bought a new position in shares of Astera Labs in the second quarter valued at approximately $74,000.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ALAB shares. JPMorgan Chase & Co. boosted their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI lowered their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus upped their price objective on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup initiated coverage on Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $94.67.

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.