Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells 14,200 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 14,200 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $100.00, for a total value of $1,420,000.00. Following the transaction, the chief executive officer now owns 538,759 shares of the company's stock, valued at approximately $53,875,900. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• 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 value 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 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 Down 2.4%

Shares of ALAB traded down $2.27 during midday trading on Thursday, hitting $92.95. The company's stock had a trading volume of 476,561 shares, compared to its average volume of 4,041,372. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company's fifty day simple moving average is $73.24 and its two-hundred day simple moving average is $92.71. The stock has a market capitalization of $15.33 billion, a price-to-earnings ratio of -54.18, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The business had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business's revenue for the quarter was up 144.1% compared to the same quarter last year. On average, research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently bought and sold shares of ALAB. Geneos Wealth Management Inc. acquired a new position in Astera Labs in the 4th quarter worth about $36,000. Kingswood Wealth Advisors LLC bought a new stake in shares of Astera Labs in the 4th quarter valued at about $224,000. KBC Group NV bought a new stake in shares of Astera Labs in the 4th quarter valued at about $199,000. Chicago Partners Investment Group LLC bought a new stake in shares of Astera Labs in the 4th quarter valued at about $228,000. Finally, Western Pacific Wealth Management LP bought a new stake in shares of Astera Labs in the 4th quarter valued at about $212,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Analyst Ratings Changes

ALAB has been the subject of several recent research reports. Morgan Stanley raised Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target for the company in a research report on Monday, May 12th. Barclays raised their price objective on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective for the company. Susquehanna initiated coverage on Astera Labs in a research report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective for the company. Finally, Citigroup cut their price objective on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus 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.