Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 173,366 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 173,366 shares of Astera Labs stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $110.12, for a total value of $19,091,063.92. Following the completion of the transaction, the chief executive officer now owns 600,000 shares of the company’s stock, valued at $66,072,000. The trade was a 22.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Jitendra Mohan also recently made the following trade(s):

• On Thursday, November 21st, Jitendra Mohan sold 171,064 shares of Astera Labs stock. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92.
• On Friday, October 11th, Jitendra Mohan sold 47,667 shares of Astera Labs stock. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42.

Astera Labs Price Performance

NASDAQ:ALAB opened at $99.60 on Thursday. The stock’s 50 day simple moving average is $73.12 and its 200-day simple moving average is $60.57. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $113.85.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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 return on equity of 15.57% and a negative net margin of 30.69%. The business’s revenue was up 47.1% on a year-over-year basis. On average, analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALAB. Vanguard Group Inc. acquired a new position in Astera Labs during the first quarter worth $127,268,000. Price T Rowe Associates Inc. MD acquired a new position in Astera Labs during the first quarter worth $44,514,000. Janus Henderson Group PLC acquired a new position in Astera Labs during the first quarter worth $20,025,000. Rokos Capital Management LLP acquired a new position in Astera Labs during the first quarter worth $1,484,000. Finally, Linden Thomas Advisory Services LLC acquired a new position in Astera Labs during the second quarter worth $3,187,000.

Wall Street Analyst Weigh In

ALAB has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted 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. Roth Mkm boosted their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Citigroup initiated coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs 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.