Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 197,297 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 197,297 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the transaction, the director now directly owns 6,148 shares of the company’s stock, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Astera Labs Price Performance

ALAB opened at $97.42 on Thursday. The firm has a 50-day simple moving average of $67.17 and a two-hundred day simple moving average of $59.49. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $100.09.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping 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 analysts’ expectations of $97.50 million. Astera Labs’s revenue was up 47.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Evercore ISI dropped their price target 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. Roth Mkm upped 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. Stifel Nicolaus boosted their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs has a consensus rating of “Buy” and a consensus target price of $94.67.

Hedge Funds Weigh In On Astera Labs

Several hedge funds have recently added to or reduced their stakes in ALAB. Hollencrest Capital Management bought a new position in shares of Astera Labs during the third quarter valued at approximately $26,000. US Bancorp DE purchased a new stake in shares of Astera Labs during the third quarter valued at $46,000. First Horizon Advisors Inc. purchased a new position in Astera Labs in the 3rd quarter worth about $49,000. Allworth Financial LP boosted its position in Astera Labs by 445.5% in the 3rd 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 period. Finally, Amalgamated Bank bought a new stake in shares of Astera Labs during the second quarter valued at approximately $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.