Philip Mazzara Sells 2,513 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares in the company, valued at $22,588,533.45. This represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, November 7th, Philip Mazzara sold 42,000 shares of Astera Labs stock. The stock was sold at an average price of $96.56, for a total transaction of $4,055,520.00.
• On Wednesday, October 9th, Philip Mazzara sold 25,000 shares of Astera Labs stock. The stock was sold at an average price of $60.74, for a total transaction of $1,518,500.00.
• On Monday, August 26th, Philip Mazzara sold 8,000 shares of Astera Labs stock. The shares were sold at an average price of $43.12, for a total transaction of $344,960.00.
• On Friday, August 23rd, Philip Mazzara sold 42,090 shares of Astera Labs stock. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70.

Astera Labs Price Performance

ALAB stock opened at $103.93 on Friday. The firm has a 50-day simple moving average of $68.42 and a two-hundred day simple moving average of $59.80. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $108.37.

Astera Labs (NASDAQ:ALAB) last issued its quarterly 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 net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Equities research analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in ALAB. Fred Alger Management LLC grew its stake 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 purchasing an additional 2,628,765 shares during the period. Vanguard Group Inc. acquired a new stake in Astera Labs in the 1st quarter valued at $127,268,000. Westfield Capital Management Co. LP acquired a new stake in Astera Labs in the 3rd quarter valued at $52,049,000. The Manufacturers Life Insurance Company grew its stake in Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after acquiring an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC acquired a new stake in Astera Labs in the 3rd quarter valued at $38,565,000.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALAB. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Barclays upped their price target on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Roth Mkm boosted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus 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.