Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $19,091,063.92 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 173,366 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $110.12, for a total value of $19,091,063.92. Following the sale, the chief executive officer now owns 600,000 shares in the company, valued at approximately $66,072,000. The trade was a 22.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Trading Down 5.6 %

ALAB stock opened at $99.60 on Thursday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $113.85. The stock has a 50-day simple moving average of $73.12 and a 200-day simple moving average of $60.57.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 47.1% compared to the same quarter last year. On average, research analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Avior Wealth Management LLC purchased a new position in Astera Labs in the third quarter valued at about $361,000. Meeder Asset Management Inc. purchased a new position in Astera Labs in the third quarter valued at about $1,141,000. Bank of Hawaii purchased a new position in Astera Labs in the third quarter valued at about $1,409,000. Vanguard Group Inc. purchased a new position in Astera Labs in the first quarter valued at about $127,268,000. Finally, Rakuten Securities Inc. purchased a new position in Astera Labs in the third quarter valued at about $291,000.

Analysts Set New Price Targets

A number of research firms have commented on ALAB. Morgan Stanley boosted their target price on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Barclays upped their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, Craig Hallum increased their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and a consensus target price of $94.67.

About Astera Labs

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.