Astera Labs, Inc. (NASDAQ:ALAB) Insider Sells $7,641,700.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the completion of the sale, the insider now directly owns 835,000 shares in the company, valued at $58,007,450. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Sanjay Gajendra also recently made the following trade(s):

• On Tuesday, September 17th, Sanjay Gajendra sold 76,701 shares of Astera Labs stock. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32.

Astera Labs Stock Up 0.6 %

Shares of ALAB stock opened at $65.99 on Friday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $95.21. The company has a 50-day moving average of $47.75 and a two-hundred day moving average of $58.16.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The company’s revenue was up 17.8% on a year-over-year basis. As a group, analysts expect that Astera Labs, Inc. will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ALAB shares. Evercore ISI decreased their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus lowered 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. Craig Hallum reduced their price objective on Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays dropped their target price on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and an average target price of $73.09.

Institutional Investors Weigh In On Astera Labs

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. acquired a new position in Astera Labs during the 1st quarter worth about $127,268,000. Capital World Investors purchased a new position in shares of Astera Labs in the first quarter valued at approximately $44,514,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs in the first quarter valued at approximately $44,514,000. Bamco Inc. NY purchased a new stake in Astera Labs during the 1st quarter worth approximately $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Astera Labs during the 1st quarter worth approximately $33,141,000.

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.