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 the business's stock in a transaction that occurred 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 $49,256,096.32. This represents a 16.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, May 29th, Jitendra Mohan sold 14,200 shares of Astera Labs stock. The shares were 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 transaction of $11,545,065.00.
• On Friday, May 16th, Jitendra Mohan sold 91,337 shares of Astera Labs stock. The stock was 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 stock was sold at an average price of $90.90, for a total value 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 value of $5,328,750.00.

Astera Labs Stock Performance

ALAB stock traded up $6.62 during midday trading on Wednesday, reaching $99.53. 4,521,735 shares of the company traded hands, compared to its average volume of 4,131,262. The business has a 50 day moving average of $80.16 and a 200-day moving average of $92.21. 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 $16.41 billion, a price-to-earnings ratio of 452.43, a P/E/G ratio of 4.36 and a beta of 1.39.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ALAB. Empowered Funds LLC purchased a new position in Astera Labs during the fourth quarter valued at approximately $60,000. Rhumbline Advisers grew its stake in Astera Labs by 371.4% in the fourth quarter. Rhumbline Advisers now owns 99,949 shares of the company's stock valued at $13,238,000 after purchasing an additional 78,746 shares during the last quarter. Principal Securities Inc. purchased a new position in Astera Labs in the fourth quarter valued at about $55,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Astera Labs in the 4th quarter worth approximately $2,921,000. Finally, Principal Financial Group Inc. purchased a new position in Astera Labs in the fourth quarter worth $1,388,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALAB. Barclays increased their price target on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Stifel Nicolaus cut their price objective on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Susquehanna began coverage on Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price on the stock. Evercore ISI boosted their target price on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Finally, Raymond James Financial assumed coverage on Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $100.00.

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.

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