Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate Sells 16,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the transaction, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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 transaction of $17,190,980.00.
• On Monday, November 18th, Michael Truett Tate sold 7,398 shares of Astera Labs stock. The stock was sold at an average price of $90.81, for a total transaction of $671,812.38.
• On Wednesday, October 9th, Michael Truett Tate sold 100,000 shares of Astera Labs stock. The shares were sold at an average price of $62.03, for a total transaction of $6,203,000.00.

Astera Labs Price Performance

Shares of NASDAQ:ALAB traded up $5.72 during mid-day trading on Friday, reaching $120.40. The stock had a trading volume of 4,027,429 shares, compared to its average volume of 3,223,023. The business’s 50 day moving average price is $80.04 and its 200 day moving average price is $62.15. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $121.20.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management bought a new position in shares of Astera Labs in the 3rd quarter valued at about $26,000. US Bancorp DE purchased a new stake in Astera Labs during the third quarter valued at approximately $46,000. First Horizon Advisors Inc. bought a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $49,000. Allworth Financial LP boosted its holdings in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares during the period. Finally, Amalgamated Bank purchased a new stake in Astera Labs during the 2nd quarter valued at $74,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their price objective on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 target price for the company. Roth Mkm increased their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley upped their price objective on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus 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.