Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $17,710,255.92 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 171,064 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the transaction, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at $65,109,499.35. This represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Jitendra Mohan also recently made the following trade(s):

• On Friday, October 11th, Jitendra Mohan sold 47,667 shares of Astera Labs stock. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB traded up $5.03 during mid-day trading on Monday, reaching $107.31. The stock had a trading volume of 7,755,092 shares, compared to its average volume of 3,172,556. The firm has a 50 day simple moving average of $69.60 and a two-hundred day simple moving average of $59.79. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $113.85.

Astera Labs (NASDAQ:ALAB) last posted its 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 analyst estimates of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, sell-side analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on ALAB shares. Barclays raised their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. 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 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum lifted their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $94.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fred Alger Management LLC boosted its holdings in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after buying an additional 2,628,765 shares during the period. Vanguard Group Inc. acquired a new position in Astera Labs in the 1st quarter worth $127,268,000. Westfield Capital Management Co. LP bought a new position in Astera Labs during the 3rd quarter worth about $52,049,000. The Manufacturers Life Insurance Company raised its stake in shares of 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 purchasing an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC bought a new stake in shares of Astera Labs in the third quarter valued at about $38,565,000.

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.