Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells $10,382,274.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, February 18th, Michael Truett Tate sold 34,474 shares of Astera Labs stock. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18.
• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The stock was 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 Stock Down 1.8 %

Astera Labs stock traded down $1.40 during mid-day trading on Friday, hitting $74.35. 10,685,394 shares of the company were exchanged, compared to its average volume of 5,595,052. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The business has a fifty day moving average of $113.02 and a 200 day moving average of $85.95. The company has a market capitalization of $12.06 billion and a PE ratio of -42.98.

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 10.40%. Research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped 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. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Astera Labs has an average rating of “Buy” and a consensus target price of $115.33.

Institutional Investors Weigh In On Astera Labs

A number of large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC raised its position in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at $25,000. Strategic Blueprint LLC raised its holdings in shares of Astera Labs by 3.6% in 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. Kestra Investment Management LLC acquired a new position in Astera Labs during the 4th quarter worth about $28,000. Finally, GAMMA Investing LLC grew its holdings in Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

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.