Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 2,500 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Astera Labs Stock Performance

Shares of ALAB opened at $88.43 on Friday. The firm has a market cap of $14.34 billion and a PE ratio of -51.12. The firm’s 50 day moving average price is $117.65 and its 200 day moving average price is $84.55. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.76%. On average, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the 4th quarter valued at $25,000. Hollencrest Capital Management acquired a new position in Astera Labs in the third quarter valued at about $26,000. Steward Partners Investment Advisory LLC boosted its stake in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Astera Labs in the 4th quarter valued at $28,000. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the fourth quarter worth about $36,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALAB shares. Roth Mkm boosted their target price 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley dropped their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Craig Hallum increased their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $115.33.

About Astera Labs

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.