Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $1,155,953.72 in Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 11,282 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $102.46, for a total value of $1,155,953.72. Following the sale, the chief executive officer directly owned 509,174 shares of the company's stock, valued at $52,169,968.04. The trade was a 2.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, July 9th, Jitendra Mohan sold 6,982 shares of Astera Labs stock. The shares were sold at an average price of $100.01, for a total transaction of $698,269.82.
• On Friday, June 20th, Jitendra Mohan sold 52,743 shares of Astera Labs stock. The stock was sold at an average price of $100.86, for a total transaction of $5,319,658.98.
• On Tuesday, June 17th, Jitendra Mohan sold 106,510 shares of Astera Labs stock. The shares were sold at an average price of $94.54, for a total transaction of $10,069,455.40.
• 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 transaction 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 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 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 value of $5,328,750.00.

Astera Labs Stock Down 1.2%

Shares of NASDAQ ALAB traded down $1.12 during mid-day trading on Friday, reaching $95.90. 2,879,503 shares of the company were exchanged, compared to its average volume of 4,352,257. The stock has a market capitalization of $15.82 billion, a P/E ratio of 435.93, a P/E/G ratio of 4.69 and a beta of 1.18. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The company's 50-day simple moving average is $89.98 and its 200-day simple moving average is $88.83.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating 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 firm had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the firm posted $0.10 EPS. The company's revenue for the quarter was up 144.1% on a year-over-year basis. As a group, equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Trading of Astera Labs

A number of institutional investors have recently modified their holdings of ALAB. Steward Partners Investment Advisory LLC raised its stake in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Astera Labs by 12.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 132,472 shares of the company's stock worth $17,546,000 after acquiring an additional 15,008 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Astera Labs by 13.6% in the fourth quarter. Victory Capital Management Inc. now owns 15,216 shares of the company's stock worth $2,015,000 after purchasing an additional 1,826 shares during the last quarter. Atria Investments Inc acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $303,000. Finally, Proficio Capital Partners LLC boosted its holdings in Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock valued at $2,864,000 after acquiring an additional 390 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Roth Capital set a $100.00 price objective on Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus decreased their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Evercore ISI boosted their price objective on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Needham & Company LLC dropped their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, William Blair initiated coverage on shares of Astera Labs in a research note on Thursday, May 22nd. They issued an "outperform" rating on the stock. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Astera Labs presently has a consensus rating of "Buy" and a consensus price target of $100.00.

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.

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