Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara Sells 7,536 Shares

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the sale, the general counsel now directly owns 241,209 shares in the company, valued at approximately $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Philip Mazzara also recently made the following trade(s):

• On Thursday, February 20th, Philip Mazzara sold 50,000 shares of Astera Labs stock. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00.

Astera Labs Stock Down 1.6 %

Shares of NASDAQ:ALAB opened at $88.43 on Friday. The company’s 50 day moving average price is $117.65 and its two-hundred day moving average price is $84.55. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a market cap of $14.34 billion and a PE ratio of -51.12.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. On average, research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup started 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. Roth Mkm upped their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum upped their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Astera Labs presently has an average rating of “Buy” and a consensus target price of $115.33.

Institutional Trading of Astera Labs

Several large investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Astera Labs by 354.9% during the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after acquiring an additional 792,153 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.