Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 47,667 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares in the company, valued at $51,178,789.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Astera Labs Price Performance

ALAB stock traded down $2.49 during trading on Tuesday, hitting $62.47. The company had a trading volume of 3,023,798 shares, compared to its average volume of 2,701,490. The company has a fifty day moving average price of $46.27 and a two-hundred day moving average price of $58.14. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $95.21.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, analysts expect that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Evercore ISI lowered their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their target price on Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus decreased their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Finally, Barclays decreased their price objective on Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs has an average rating of “Buy” and an average price target of $73.09.

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of ALAB. Amalgamated Bank bought a new position in Astera Labs in the 2nd quarter valued at $74,000. Newbridge Financial Services Group Inc. raised its position in shares of Astera Labs by 11,920.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after acquiring an additional 2,980 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Astera Labs during the second quarter worth $207,000. Alpine Global Management LLC bought a new stake in shares of Astera Labs during the first quarter worth $272,000. Finally, Strategic Blueprint LLC bought a new stake in shares of Astera Labs during the second quarter worth $332,000.

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.