Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells $3,174,021.18 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 34,474 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Michael Truett Tate also recently made the following trade(s):

• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00.
• On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The shares were sold at an average price of $102.94, for a total transaction of $17,190,980.00.

Astera Labs Trading Down 3.1 %

Astera Labs stock opened at $85.72 on Friday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The stock has a market cap of $13.90 billion and a P/E ratio of -49.55. The company has a 50-day moving average price of $116.72 and a 200 day moving average price of $84.84.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors have recently made changes to their positions in ALAB. Tidal Investments LLC boosted its stake in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after purchasing an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Astera Labs in the third quarter valued at approximately $530,000. Avior Wealth Management LLC purchased a new position in shares of Astera Labs in the third quarter valued at approximately $361,000. Maverick Capital Ltd. boosted its stake in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the period. Finally, Bank of Hawaii purchased a new position in shares of Astera Labs in the third quarter valued at approximately $1,409,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALAB. Roth Mkm increased their price objective 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. increased their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup started coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Barclays increased their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. 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 research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Astera Labs 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.