Sanjay Gajendra Sells 740,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the transaction, the insider now owns 775,000 shares of the company’s stock, valued at $74,857,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, October 11th, Sanjay Gajendra sold 110,000 shares of Astera Labs stock. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00.
• 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 Price Performance

Shares of Astera Labs stock traded down $1.50 on Tuesday, reaching $90.75. The stock had a trading volume of 4,363,290 shares, compared to its average volume of 3,041,599. The business’s 50-day moving average price is $60.03 and its two-hundred day moving average price is $58.84. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $100.09.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s quarterly revenue 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 year.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds have recently modified their holdings of ALAB. Hollencrest Capital Management acquired a new stake in shares of Astera Labs during the third quarter worth approximately $26,000. US Bancorp DE bought a new position in Astera Labs in the 3rd quarter valued at $46,000. First Horizon Advisors Inc. bought a new stake in shares of Astera Labs during the third quarter worth $49,000. Allworth Financial LP raised its holdings in shares of Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Astera Labs during the second quarter worth approximately $74,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Roth Mkm increased their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Eleven investment 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 $92.36.

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.