Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 106,510 Shares

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 106,510 shares of Astera Labs stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $94.54, for a total value of $10,069,455.40. Following the completion of the transaction, the chief executive officer now owns 521,008 shares of the company's stock, valued at approximately $49,256,096.32. This trade represents a 16.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Jitendra Mohan also recently made the following trade(s):

• On Thursday, May 29th, Jitendra Mohan sold 14,200 shares of Astera Labs stock. The stock was sold at an average price of $100.00, for a total value of $1,420,000.00.
• On Monday, May 19th, Jitendra Mohan sold 128,250 shares of Astera Labs stock. The stock was sold at an average price of $90.02, for a total value of $11,545,065.00.
• On Friday, May 16th, Jitendra Mohan sold 91,337 shares of Astera Labs stock. The shares were sold at an average price of $90.67, for a total transaction of $8,281,525.79.
• On Wednesday, May 14th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00.
• On Thursday, May 8th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00.

Astera Labs Trading Down 6.5%

Shares of Astera Labs stock traded down $6.46 during trading hours on Friday, reaching $93.07. 8,070,498 shares of the company's stock were exchanged, compared to its average volume of 4,156,560. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 423.06, a price-to-earnings-growth ratio of 4.68 and a beta of 1.39. The company has a fifty day moving average of $81.64 and a 200-day moving average of $92.02.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the prior year, the company posted $0.10 EPS. The business's revenue for the quarter was up 144.1% compared to the same quarter last year. On average, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALAB. Barclays increased their price target on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Stifel Nicolaus lowered their price target on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Evercore ISI upped their price target on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Needham & Company LLC lowered their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Citigroup lowered their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $100.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its stake in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the 4th quarter worth $25,000. Hoey Investments Inc. increased its holdings in shares of Astera Labs by 4.2% during the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock worth $298,000 after buying an additional 200 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after buying an additional 204 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

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.