Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Sells $228,205.53 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 2,513 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares in the company, valued at $22,588,533.45. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, November 7th, Philip Mazzara sold 42,000 shares of Astera Labs stock. The stock was sold at an average price of $96.56, for a total value of $4,055,520.00.
• 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 stock was sold at an average price of $40.43, for a total value of $1,701,698.70.

Astera Labs Stock Up 2.4 %

Shares of NASDAQ:ALAB traded up $2.24 during trading on Wednesday, hitting $97.42. 5,780,433 shares of the company traded hands, compared to its average volume of 3,100,462. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $100.09. The business’s fifty day moving average is $66.06 and its 200-day moving average is $59.22.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. Analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Astera Labs

Hedge funds have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after buying an additional 153,491 shares during the period. Fred Alger Management LLC raised its position in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares in the last quarter. Vanguard Group Inc. acquired a new position in Astera Labs in the first quarter worth about $127,268,000. Maverick Capital Ltd. raised its position in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in Astera Labs in the third quarter worth about $52,049,000.

Analyst Ratings Changes

A number of equities research analysts have commented on ALAB shares. Roth Mkm lifted 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. Deutsche Bank Aktiengesellschaft boosted their target price on 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 reaffirmed a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Citigroup started coverage on Astera Labs in a report on Monday. They issued a “buy” rating and a $120.00 price target on the stock. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.