Astera Labs, Inc. (NASDAQ:ALAB) COO Sells $8,695,194.97 in Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) COO Sanjay Gajendra sold 88,627 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $98.11, for a total transaction of $8,695,194.97. Following the sale, the chief operating officer now directly owns 724,257 shares of the company's stock, valued at approximately $71,056,854.27. The trade was a 10.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Sanjay Gajendra also recently made the following trade(s):

• On Tuesday, May 27th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The stock was sold at an average price of $98.25, for a total value of $16,211,250.00.
• On Friday, May 16th, Sanjay Gajendra 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 Thursday, May 8th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The stock was sold at an average price of $71.76, for a total value of $11,840,400.00.

Astera Labs Stock Up 0.0%

NASDAQ ALAB traded up $0.04 during trading hours on Friday, hitting $90.75. The company's stock had a trading volume of 2,842,240 shares, compared to its average volume of 4,058,307. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The firm has a market capitalization of $14.97 billion, a P/E ratio of -52.46, a PEG ratio of 6.18 and a beta of 0.33. The stock has a fifty day moving average of $73.86 and a 200 day moving average of $92.71.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating 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 company had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. During the same quarter in the prior year, the business posted $0.10 EPS. The firm's quarterly revenue was up 144.1% on a year-over-year basis. On average, analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Institutional Trading of Astera Labs

A number of institutional investors and hedge funds have recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the 4th quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC raised its holdings in Astera Labs by 99.0% in the fourth 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. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the fourth quarter worth $28,000. Global Retirement Partners LLC grew its holdings in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after buying an additional 284 shares during the period. Finally, Trifecta Capital Advisors LLC acquired a new position in shares of Astera Labs in the 4th quarter valued at $43,000. 60.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on ALAB shares. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price on the stock in a report on Monday, May 12th. Stifel Nicolaus dropped their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Susquehanna began coverage on shares of Astera Labs in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 target price on the stock. Citigroup lowered their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Evercore ISI boosted their price objective on shares of Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price 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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