Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Sells 42,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 42,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.56, for a total value of $4,055,520.00. Following the sale, the general counsel now owns 258,564 shares of the company’s stock, valued at approximately $24,966,939.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Philip Mazzara also recently made the following trade(s):

• On Wednesday, October 9th, Philip Mazzara sold 25,000 shares of Astera Labs stock. The shares were sold at an average price of $60.74, for a total transaction of $1,518,500.00.
• On Monday, August 26th, Philip Mazzara sold 8,000 shares of Astera Labs stock. The stock was sold at an average price of $43.12, for a total transaction of $344,960.00.
• On Friday, August 23rd, Philip Mazzara sold 42,090 shares of Astera Labs stock. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70.

Astera Labs Stock Down 1.6 %

Shares of NASDAQ ALAB traded down $1.50 during midday trading on Tuesday, hitting $90.75. 4,363,290 shares of the company’s stock were exchanged, compared to its average volume of 3,041,599. The business’s fifty day moving average price is $60.03 and its two-hundred day moving average price is $58.84. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $100.09.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results 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 business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Sell-side analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new position in Astera Labs in the first quarter worth $127,268,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Astera Labs during the 1st quarter valued at about $44,514,000. Capital World Investors bought a new stake in Astera Labs during the first quarter valued at about $44,514,000. Bamco Inc. NY bought a new position in shares of Astera Labs in the first quarter worth approximately $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new position in Astera Labs in the 1st quarter worth approximately $33,141,000.

Analyst Ratings Changes

A number of analysts recently commented on ALAB shares. Barclays upped their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Evercore ISI dropped their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus boosted their price objective on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $92.36.

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.