Astera Labs (NASDAQ:ALAB) Stock Price Down 4.2% Following Insider Selling

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) fell 4.2% during trading on Monday following insider selling activity. The company traded as low as $88.19 and last traded at $91.88. 2,551,931 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 4,659,518 shares. The stock had previously closed at $95.90.

Specifically, COO Sanjay Gajendra sold 165,000 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $98.61, for a total value of $16,270,650.00. Following the completion of the transaction, the chief operating officer owned 695,000 shares in the company, valued at $68,533,950. The trade was a 19.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 11,282 shares of Astera Labs stock in a transaction dated 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 completion of the sale, the chief executive officer owned 509,174 shares of the company's stock, valued at $52,169,968.04. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Astera Labs news, CEO Jitendra Mohan sold 6,982 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $100.01, for a total transaction of $698,269.82. Following the transaction, the chief executive officer owned 511,054 shares in the company, valued at approximately $51,110,510.54. This represents a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALAB. Barclays raised their target price on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Evercore ISI increased their price objective on shares of Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Morgan Stanley upgraded shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a research report on Monday, May 12th. William Blair started coverage on shares of Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating for the company. Finally, Citigroup decreased their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $100.00.

Astera Labs Stock Performance

The company has a market cap of $15.05 billion, a P/E ratio of 416.36, a P/E/G ratio of 4.50 and a beta of 1.18. The firm's fifty day moving average is $90.47 and its two-hundred day moving average is $87.75.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The business's revenue was up 144.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. On average, equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors have recently added to or reduced their stakes in ALAB. Vanguard Group Inc. raised its holdings in shares of Astera Labs by 354.9% during the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. raised its stake in Astera Labs by 114.2% during the first quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company's stock valued at $501,289,000 after purchasing an additional 4,478,741 shares in the last quarter. Atreides Management LP lifted its position in Astera Labs by 153.3% during the first quarter. Atreides Management LP now owns 4,652,264 shares of the company's stock valued at $277,601,000 after purchasing an additional 2,815,614 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after buying an additional 1,384,498 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Astera Labs in the 4th quarter worth $179,229,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

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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