Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff Sells 197,297 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 197,297 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the sale, the director now owns 6,148 shares of the company’s stock, valued at $556,455.48. This represents a 96.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Astera Labs Stock Up 2.4 %

NASDAQ:ALAB opened at $97.42 on Thursday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $100.09. The firm’s 50-day moving average price is $67.17 and its 200-day moving average price is $59.49.

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

Institutional Investors Weigh In On Astera Labs

Hedge funds have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the 3rd quarter worth about $26,000. US Bancorp DE purchased a new position in Astera Labs in the third quarter worth about $46,000. First Horizon Advisors Inc. bought a new position in shares of Astera Labs in the third quarter worth approximately $49,000. Allworth Financial LP grew its holdings in shares of Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Astera Labs during the second quarter valued at approximately $74,000.

Wall Street Analyst Weigh In

ALAB has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus increased 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. Craig Hallum boosted their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Finally, Morgan Stanley lifted their price target on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $94.67.

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.