Astera Labs (NASDAQ:ALAB) Stock Price Down 4.7% on Insider Selling

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) dropped 4.7% during mid-day trading on Friday following insider selling activity. The stock traded as low as $92.71 and last traded at $93.39. Approximately 1,229,088 shares changed hands during trading, a decline of 74% from the average daily volume of 4,654,406 shares. The stock had previously closed at $97.96.

Specifically, Director Bethany Mayer sold 686 shares of Astera Labs stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $87.47, for a total value of $60,004.42. Following the transaction, the director now directly owns 6,238 shares of the company's stock, valued at $545,637.86. This trade represents a 9.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Manuel Alba sold 20,150 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.84, for a total value of $2,031,926.00. Following the completion of the sale, the director now directly owns 432,854 shares in the company, valued at approximately $43,648,997.36. This represents a 4.45% decrease in their position. The disclosure for this sale can be found here. In other news, CEO Jitendra Mohan sold 52,743 shares of Astera Labs stock in a transaction on Friday, June 20th. The stock was sold at an average price of $100.86, for a total value of $5,319,658.98. Following the transaction, the chief executive officer now owns 512,218 shares in the company, valued at approximately $51,662,307.48. This trade represents a 9.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Several analysts recently weighed in on ALAB shares. William Blair started coverage on Astera Labs in a research report on Thursday, May 22nd. They set an "outperform" rating for the company. Needham & Company LLC dropped their target price on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Evercore ISI raised their price target on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Raymond James Financial initiated coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective for the company. Finally, Stifel Nicolaus dropped their price objective 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. One investment 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $100.00.

Astera Labs Price Performance

The company has a market cap of $15.42 billion, a price-to-earnings ratio of 423.47, a price-to-earnings-growth ratio of 4.21 and a beta of 1.39. The business's fifty day moving average price is $84.11 and its 200 day moving average price is $91.25.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate 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 return on equity of 2.57% and a net margin of 8.44%. The business's quarterly revenue was up 144.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. As a group, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Trading of Astera Labs

Several institutional investors have recently added to or reduced their stakes in ALAB. Proficio Capital Partners LLC raised its holdings in Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after purchasing an additional 390 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Astera Labs by 2,824.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company's stock worth $20,467,000 after buying an additional 149,240 shares during the period. JPMorgan Chase & Co. increased its position in shares of Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after buying an additional 792,153 shares during the period. Aigen Investment Management LP bought a new position in Astera Labs during the fourth quarter worth $1,573,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Astera Labs in the fourth quarter valued at $3,476,000. 60.47% of the stock is currently owned by 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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