Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 11,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now owns 456,863 shares of the company’s stock, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, December 2nd, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $102.94, for a total value of $6,485,220.00.
• On Friday, November 8th, Manuel Alba sold 12,000 shares of Astera Labs stock. The stock was sold at an average price of $94.74, for a total transaction of $1,136,880.00.
• 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.
• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00.

Astera Labs Stock Up 5.0 %

ALAB stock traded up $5.72 during mid-day trading on Friday, reaching $120.40. The company’s stock had a trading volume of 4,027,429 shares, compared to its average volume of 3,223,023. The company’s 50 day moving average is $80.04 and its two-hundred day moving average is $62.15. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $121.20.

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

Institutional Investors Weigh In On Astera Labs

A number of hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Astera Labs during the 3rd quarter worth approximately $530,000. Avior Wealth Management LLC purchased a new position in Astera Labs during the 3rd quarter valued at about $361,000. Meeder Asset Management Inc. acquired a new position in Astera Labs in the 3rd quarter valued at about $1,141,000. Bank of Hawaii purchased a new stake in Astera Labs during the third quarter worth about $1,409,000. Finally, Maverick Capital Ltd. grew its stake in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares in the last quarter.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several recent analyst reports. Morgan Stanley increased their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Citigroup assumed coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has an average rating of “Buy” and a consensus price target of $94.67.

About Astera Labs

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.