Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba Sells 30,991 Shares

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Manuel Alba sold 30,991 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $91.13, for a total transaction of $2,824,209.83. Following the completion of the transaction, the director owned 418,863 shares in the company, valued at $38,170,985.19. This represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, July 2nd, Manuel Alba sold 63,000 shares of Astera Labs stock. The stock was 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 stock was 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 stock was sold at an average price of $100.00, for a total transaction of $60,000.00.

Astera Labs Trading Down 1.3%

Shares of NASDAQ ALAB traded down $1.18 during mid-day trading on Monday, reaching $89.62. The company had a trading volume of 2,705,097 shares, compared to its average volume of 4,310,752. The firm has a 50 day simple moving average of $87.73 and a two-hundred day simple moving average of $89.30. The stock has a market cap of $14.78 billion, a P/E ratio of 908.00, a PEG ratio of 4.27 and a beta of 1.18. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The firm 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 company's revenue was up 144.1% on a year-over-year basis. During the same period last year, the firm posted $0.10 EPS. On average, equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Trading of Astera Labs

A number of large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC lifted its stake in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the 4th quarter worth $25,000. Hoey Investments Inc. lifted its stake in shares of Astera Labs by 4.2% in the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock worth $298,000 after acquiring an additional 200 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Astera Labs by 34.7% in the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock valued at $47,000 after purchasing an additional 204 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Astera Labs by 20.4% in the first quarter. Allworth Financial LP now owns 1,394 shares of the company's stock valued at $90,000 after purchasing an additional 236 shares during the period. Institutional investors and hedge funds own 60.47% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ALAB. Citigroup cut their price objective 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. Susquehanna assumed coverage on shares of Astera Labs in a research note on Friday, May 16th. They set a "neutral" rating and a $80.00 price objective for the company. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial began coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Astera Labs from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Astera Labs 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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