Astera Labs (NASDAQ:ALAB) Director Stefan Dyckerhoff Sells 8,994 Shares of Company Stock

Key Points

• Director Stefan Dyckerhoff sold 8,994 Astera Labs shares for about $1.90 million under a pre-arranged Rule 10b5-1 plan, reducing his stake by 81.91% to 1,987 shares.
• Astera Labs exceeded quarterly estimates, reporting EPS of $1.32 versus $1.19 expected and revenue of $584.9 million, up 153.6% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $320.85; shares were reported up 13.7% to $216.87.

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Stefan Dyckerhoff sold 8,994 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $211.41, for a total transaction of $1,901,421.54. Following the transaction, the director directly owned 1,987 shares of the company's stock, valued at $420,071.67. The trade was a 81.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Astera Labs Stock Up 13.7%

NASDAQ ALAB traded up $26.16 on Monday, reaching $216.87. The stock had a trading volume of 7,077,873 shares, compared to its average volume of 5,162,014. The stock has a fifty day moving average price of $300.46 and a two-hundred day moving average price of $255.80. Astera Labs, Inc. has a 12-month low of $97.89 and a 12-month high of $499.48. The firm has a market capitalization of $37.90 billion, a price-to-earnings ratio of 86.40 and a beta of 3.86.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.19 by $0.13. Astera Labs had a return on equity of 25.35% and a net margin of 29.64%. The business had revenue of $584.90 million during the quarter, compared to analyst estimates of $550.78 million. During the same period last year, the business posted $0.49 earnings per share. The company's quarterly revenue was up 153.6% on a year-over-year basis. Sell-side analysts forecast that Astera Labs, Inc. will post 2.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astera Labs

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Astera Labs in the second quarter valued at approximately $6,609,581,000. ABS Investment Management LLC purchased a new stake in shares of Astera Labs in the 2nd quarter valued at approximately $1,980,382,000. Van ECK Associates Corp increased its position in shares of Astera Labs by 20.0% in the 2nd quarter. Van ECK Associates Corp now owns 2,237,961 shares of the company's stock valued at $1,080,980,000 after purchasing an additional 373,545 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Astera Labs in the 2nd quarter valued at approximately $1,061,791,000. Finally, Atreides Management LP acquired a new stake in shares of Astera Labs in the 2nd quarter valued at $587,736,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALAB. Jefferies Financial Group increased their price target on shares of Astera Labs from $270.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada dropped their price objective on shares of Astera Labs from $500.00 to $400.00 and set an "outperform" rating for the company in a report on Wednesday, November 4th. Roth Capital reaffirmed a "buy" rating and set a $450.00 target price on shares of Astera Labs in a research note on Wednesday, August 5th. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $315.00 target price on the stock in a research note on Wednesday, November 4th. Finally, UBS Group reduced their target price on shares of Astera Labs from $300.00 to $290.00 and set a "neutral" rating on the stock in a report on Wednesday, November 4th. Thirteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $320.85.

Astera Labs Company Profile

Astera Labs, Inc is a fabless semiconductor company that develops connectivity solutions for cloud and artificial intelligence infrastructure. Its products are designed to help move data among processors, accelerators, memory and other components in high-performance computing systems.

The company's portfolio includes Aries PCIe and CXL retimers, Taurus Ethernet smart cable modules, Scorpio fabric switches and Leo CXL memory connectivity controllers. Astera Labs also offers software tools to help customers configure and monitor its connectivity products.

Founded in 2017 and headquartered in Santa Clara, California, Astera Labs serves the global cloud and computing markets.

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