Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $2,031,926.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Manuel Alba sold 20,150 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.84, for a total transaction of $2,031,926.00. Following the sale, the director now owns 432,854 shares of the company's stock, valued at $43,648,997.36. This represents a 4.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 value of $60,000.00.
• On Wednesday, April 2nd, Manuel Alba sold 63,000 shares of Astera Labs stock. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00.

Astera Labs Trading Up 1.5%

Shares of NASDAQ:ALAB traded up $1.31 during midday trading on Tuesday, hitting $87.26. The stock had a trading volume of 7,503,388 shares, compared to its average volume of 4,181,679. The company has a market capitalization of $14.39 billion, a PE ratio of 396.65, a P/E/G ratio of 4.37 and a beta of 1.38. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a 50 day moving average price of $82.17 and a two-hundred day moving average price of $91.46.

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 return on equity of 2.57% and a net margin of 8.44%. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. During the same period in the prior year, the business 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 analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs during the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC boosted its position 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 purchasing an additional 99 shares in the last quarter. Global Retirement Partners LLC grew its stake in 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 acquiring an additional 284 shares during the last quarter. Trifecta Capital Advisors LLC acquired a new position in Astera Labs during the fourth quarter worth about $43,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Astera Labs in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALAB. Raymond James Financial started coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 target price for the company. William Blair initiated coverage on shares of Astera Labs in a research report on Thursday, May 22nd. They set an "outperform" rating for the company. Wall Street Zen upgraded Astera Labs from a "hold" rating to a "buy" rating in a report on Saturday. Susquehanna initiated coverage on shares of Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target for the company. Finally, Needham & Company LLC reduced their target price on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Astera Labs has an average rating of "Buy" and a consensus 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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