Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Sells $4,373,000.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the transaction, the general counsel now directly owns 191,209 shares in the company, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Philip Mazzara also recently made the following trade(s):

• On Tuesday, February 18th, Philip Mazzara sold 7,536 shares of Astera Labs stock. The stock was sold at an average price of $92.07, for a total value of $693,839.52.

Astera Labs Price Performance

Shares of ALAB stock opened at $85.72 on Friday. The company has a market cap of $13.90 billion and a price-to-earnings ratio of -49.55. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a fifty day moving average price of $116.72 and a 200-day moving average price of $85.13.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Warm Springs Advisors Inc. bought a new position in shares of Astera Labs in the fourth quarter worth approximately $3,311,000. GF Fund Management CO. LTD. purchased a new position in shares of Astera Labs during the 4th quarter valued at $265,000. Public Employees Retirement System of Ohio boosted its holdings in Astera Labs by 364.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 37,145 shares of the company’s stock worth $4,920,000 after buying an additional 29,145 shares during the period. Pacific Point Advisors LLC purchased a new stake in Astera Labs in the 4th quarter worth $530,000. Finally, Castleark Management LLC bought a new stake in Astera Labs during the fourth quarter valued at about $364,000. Institutional investors own 60.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. JPMorgan Chase & Co. increased 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. Finally, Craig Hallum lifted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $115.33.

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.