Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 37,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 37,000 shares of Astera Labs stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00. Following the completion of the transaction, the director now owns 498,863 shares of the company’s stock, valued at $25,102,786.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Manuel Alba also recently made the following trade(s):

• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The stock was sold at an average price of $50.00, for a total value of $3,150,000.00.

Astera Labs Trading Up 1.8 %

Shares of NASDAQ:ALAB opened at $52.10 on Thursday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $95.21. The business’s 50 day moving average price is $43.98.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. Astera Labs’s revenue was up 17.8% on a year-over-year basis. As a group, analysts anticipate that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Evercore ISI dropped their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Craig Hallum dropped their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Barclays reduced their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Needham & Company LLC dropped their price target on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a research report on Wednesday, September 4th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $71.36.

Hedge Funds Weigh In On Astera Labs

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Astera Labs in the 1st quarter worth approximately $18,666,000. Value Aligned Research Advisors LLC bought a new position in shares of Astera Labs in the first quarter valued at $1,886,000. Amazon Com Inc. acquired a new stake in shares of Astera Labs during the 1st quarter valued at $20,608,000. Capstone Investment Advisors LLC bought a new stake in shares of Astera Labs during the 1st quarter worth $4,629,000. Finally, Jennison Associates LLC acquired a new position in shares of Astera Labs in the 1st quarter worth $11,283,000.

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.