Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate Sells 34,474 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 34,474 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the transaction, the chief financial officer now owns 244,242 shares in the company, valued at approximately $22,487,360.94. This trade represents a 12.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Truett Tate also recently made the following trade(s):

• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00.
• On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The stock was sold at an average price of $102.94, for a total value of $17,190,980.00.

Astera Labs Price Performance

Shares of ALAB opened at $88.43 on Friday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The company has a 50 day simple moving average of $117.65 and a two-hundred day simple moving average of $84.55. The firm has a market cap of $14.34 billion and a P/E ratio of -51.12.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. On average, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of research reports. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Roth Mkm upped their price target on shares of 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 raised their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Astera Labs has an average rating of “Buy” and an average price target of $115.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALAB. Steward Partners Investment Advisory LLC increased its position in Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs in the 4th quarter worth about $25,000. Strategic Blueprint LLC raised its position in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after buying an additional 195 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Astera Labs during the 4th quarter valued at about $28,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 224 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

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.