Philip Mazzara Sells 42,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 42,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.56, for a total value of $4,055,520.00. Following the transaction, the general counsel now owns 258,564 shares in the company, valued at $24,966,939.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, October 9th, Philip Mazzara sold 25,000 shares of Astera Labs stock. The stock was sold at an average price of $60.74, for a total value of $1,518,500.00.
• On Monday, August 26th, Philip Mazzara sold 8,000 shares of Astera Labs stock. The shares were sold at an average price of $43.12, for a total value of $344,960.00.
• On Friday, August 23rd, Philip Mazzara sold 42,090 shares of Astera Labs stock. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70.

Astera Labs Stock Performance

Shares of Astera Labs stock traded down $1.50 during trading on Tuesday, reaching $90.75. The company’s stock had a trading volume of 4,363,290 shares, compared to its average volume of 3,041,599. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $100.09. The company has a 50-day moving average price of $60.03 and a two-hundred day moving average price of $58.84.

Astera Labs (NASDAQ:ALAB) last released its 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. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Astera Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the first quarter worth $127,268,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs during the 1st quarter worth about $44,514,000. Capital World Investors acquired a new stake in shares of Astera Labs in the first quarter valued at $44,514,000. Bamco Inc. NY bought a new position in shares of Astera Labs during the 1st quarter valued at about $37,095,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of Astera Labs in the first quarter valued at $33,141,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALAB shares. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped 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. Evercore ISI dropped their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Craig Hallum increased their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs currently has an average rating of “Buy” and a consensus price target of $92.36.

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.