Bethany Mayer Sells 686 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) 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 completion of the transaction, the director now owns 6,238 shares in the company, 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 at this hyperlink.

Astera Labs Price Performance

ALAB traded up $8.33 during midday trading on Thursday, reaching $97.96. 7,522,962 shares of the company's stock were exchanged, compared to its average volume of 4,235,271. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The stock has a market capitalization of $16.16 billion, a PE ratio of 896.30, a P/E/G ratio of 4.21 and a beta of 1.39. The business's 50-day moving average price is $83.33 and its 200 day moving average price is $91.41.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million during 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 company's quarterly revenue was up 144.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALAB. Susquehanna initiated coverage on shares of Astera Labs in a research note on Friday, May 16th. They set a "neutral" rating and a $80.00 price target on the stock. Barclays raised their price target on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective for the company in a research report on Monday, May 12th. Wall Street Zen upgraded shares of Astera Labs from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Needham & Company LLC lowered their price target on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $100.00.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs during the 4th quarter worth about $25,000. Steward Partners Investment Advisory LLC lifted its holdings in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Astera Labs during the fourth quarter worth about $43,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Astera Labs by 34.7% during the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after buying an additional 204 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

About Astera Labs

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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