Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 30,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $105.90, for a total transaction of $3,177,000.00. Following the transaction, the director now directly owns 3,765 shares of the company’s stock, valued at $398,713.50. This represents a 88.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Astera Labs Trading Down 1.7 %

Shares of NASDAQ:ALAB traded down $1.83 during midday trading on Tuesday, hitting $105.48. The company had a trading volume of 4,339,811 shares, compared to its average volume of 3,179,274. The company has a fifty day moving average of $70.87 and a two-hundred day moving average of $60.05. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $113.85.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. Sell-side analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALAB shares. Deutsche Bank Aktiengesellschaft lifted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI reduced their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $94.67.

Institutional Trading of Astera Labs

Institutional investors have recently made changes to their positions in the business. Strategic Blueprint LLC raised its position in shares of Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after buying an additional 195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after acquiring an additional 284 shares during the last quarter. Hollencrest Capital Management bought a new stake in Astera Labs in the 3rd quarter valued at $26,000. Venturi Wealth Management LLC lifted its stake in Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares in the last quarter. Finally, US Bancorp DE bought a new position in shares of Astera Labs during the 3rd quarter valued at about $46,000.

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.