Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 13,259 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Manuel Alba sold 13,259 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $111.00, for a total value of $1,471,749.00. Following the completion of the transaction, the director directly owned 1,874,498 shares in the company, valued at $208,069,278. The trade was a 0.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Manuel Alba also recently made the following trade(s):

• On Thursday, July 3rd, Manuel Alba sold 30,991 shares of Astera Labs stock. The stock was sold at an average price of $91.13, for a total value of $2,824,209.83.
• On Wednesday, July 2nd, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $89.95, for a total transaction of $5,666,850.00.
• On Friday, June 20th, Manuel Alba sold 20,150 shares of Astera Labs stock. The shares were sold at an average price of $100.84, for a total transaction of $2,031,926.00.
• On Thursday, May 29th, Manuel Alba sold 600 shares of Astera Labs stock. The shares were sold at an average price of $100.00, for a total transaction of $60,000.00.

Astera Labs Stock Up 0.9%

Astera Labs stock traded up $1.05 during trading hours on Friday, hitting $122.73. The stock had a trading volume of 1,560,598 shares, compared to its average volume of 4,743,873. The stock has a market capitalization of $20.24 billion, a P/E ratio of 558.18, a price-to-earnings-growth ratio of 5.61 and a beta of 1.18. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The stock's 50-day moving average price is $95.39 and its 200-day moving average price is $86.49.

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, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company's revenue was up 144.1% on a year-over-year basis. On average, research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its holdings in shares of Astera Labs by 79.3% in the 2nd quarter. CWM LLC now owns 6,734 shares of the company's stock valued at $609,000 after buying an additional 2,979 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Astera Labs by 142.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,366 shares of the company's stock valued at $1,028,000 after purchasing an additional 6,677 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of Astera Labs during the 2nd quarter valued at approximately $36,000. IFP Advisors Inc increased its holdings in shares of Astera Labs by 61.5% during the 2nd quarter. IFP Advisors Inc now owns 4,135 shares of the company's stock valued at $378,000 after purchasing an additional 1,575 shares in the last quarter. Finally, Callan Family Office LLC acquired a new stake in Astera Labs in the 2nd quarter valued at $260,000. 60.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on ALAB shares. Barclays upped their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Citigroup lowered their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Northland Capmk cut shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Jefferies Financial Group increased their target price on Astera Labs from $95.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Evercore ISI increased their target price on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $102.67.

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.