Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Insider Sells 740,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 740,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. This trade represents a 48.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Sanjay Gajendra also recently made the following trade(s):

• On Friday, October 11th, Sanjay Gajendra sold 110,000 shares of Astera Labs stock. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00.
• On Tuesday, September 17th, Sanjay Gajendra sold 76,701 shares of Astera Labs stock. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $88.49 on Friday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $100.09. The company’s 50 day moving average price is $62.01 and its two-hundred day moving average price is $59.09.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Analyst Ratings Changes

ALAB has been the topic of a number of research analyst reports. Barclays upped their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm raised their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI decreased their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average price target of $92.36.

Hedge Funds Weigh In On Astera Labs

Several hedge funds have recently bought and sold shares of ALAB. Hollencrest Capital Management acquired a new stake in shares of Astera Labs during the 3rd quarter worth approximately $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs in the 3rd quarter valued at $46,000. First Horizon Advisors Inc. bought a new position in shares of Astera Labs in the 3rd quarter valued at $49,000. Allworth Financial LP raised its holdings in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Astera Labs during the 2nd quarter worth $74,000.

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.