Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells 152,517 Shares of Stock

Key Points

• Astera Labs CEO Jitendra Mohan sold 152,517 shares on August 7th for approximately $25.98 million, reducing his ownership by 25.31% to 450,001 shares.
• The company's stock is currently trading at $179.43, with a 52-week high of $185.75 and low of $36.85, indicating significant price fluctuations over the past year.
• Astera Labs reported a 149.5% year-over-year revenue increase, achieving a net margin of 16.54% and EPS of $0.44 for the recent quarter, surpassing analyst expectations.

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 152,517 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $170.33, for a total transaction of $25,978,220.61. Following the completion of the sale, the chief executive officer owned 450,001 shares in the company, valued at $76,648,670.33. This represents a 25.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Jitendra Mohan also recently made the following trade(s):

• On Monday, July 21st, Jitendra Mohan sold 76,258 shares of Astera Labs stock. The shares were sold at an average price of $112.72, for a total transaction of $8,595,801.76.
• On Friday, July 18th, Jitendra Mohan sold 45,755 shares of Astera Labs stock. The shares were sold at an average price of $100.25, for a total transaction of $4,586,938.75.
• On Thursday, July 17th, Jitendra Mohan sold 80,503 shares of Astera Labs stock. The stock was sold at an average price of $94.37, for a total transaction of $7,597,068.11.
• On Thursday, July 10th, Jitendra Mohan sold 11,282 shares of Astera Labs stock. The shares were sold at an average price of $102.46, for a total transaction of $1,155,953.72.
• On Wednesday, July 9th, Jitendra Mohan sold 6,982 shares of Astera Labs stock. The shares were sold at an average price of $100.01, for a total transaction of $698,269.82.
• On Friday, June 20th, Jitendra Mohan sold 52,743 shares of Astera Labs stock. The stock was sold at an average price of $100.86, for a total transaction of $5,319,658.98.
• On Tuesday, June 17th, Jitendra Mohan sold 106,510 shares of Astera Labs stock. The shares were sold at an average price of $94.54, for a total transaction of $10,069,455.40.
• On Thursday, May 29th, Jitendra Mohan sold 14,200 shares of Astera Labs stock. The shares were sold at an average price of $100.00, for a total transaction of $1,420,000.00.
• On Monday, May 19th, Jitendra Mohan sold 128,250 shares of Astera Labs stock. The shares were sold at an average price of $90.02, for a total transaction of $11,545,065.00.
• On Friday, May 16th, Jitendra Mohan sold 91,337 shares of Astera Labs stock. The shares were sold at an average price of $90.67, for a total transaction of $8,281,525.79.

Astera Labs Price Performance

NASDAQ ALAB traded up $0.15 during mid-day trading on Monday, hitting $179.43. The company's stock had a trading volume of 4,765,213 shares, compared to its average volume of 4,971,734. Astera Labs, Inc. has a 52-week low of $36.85 and a 52-week high of $185.75. The stock's fifty day simple moving average is $105.95 and its two-hundred day simple moving average is $86.87. The firm has a market capitalization of $29.82 billion, a P/E ratio of 320.41, a price-to-earnings-growth ratio of 7.63 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The firm had revenue of $191.93 million during the quarter, compared to the consensus estimate of $172.46 million. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The firm's revenue was up 149.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, equities analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of Astera Labs from $100.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Jefferies Financial Group increased their price target on shares of Astera Labs from $95.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Northland Securities downgraded shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price target on the stock. in a report on Tuesday, July 22nd. Finally, William Blair began coverage on shares of Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating on the stock. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Astera Labs has an average rating of "Moderate Buy" and a consensus target price of $129.13.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently bought and sold shares of ALAB. Oliver Lagore Vanvalin Investment Group bought a new stake in Astera Labs in the second quarter worth about $29,000. Bernard Wealth Management Corp. acquired a new stake in Astera Labs during the 2nd quarter worth about $36,000. Clearstead Trust LLC raised its holdings in Astera Labs by 46,100.0% during the 2nd quarter. Clearstead Trust LLC now owns 462 shares of the company's stock worth $42,000 after buying an additional 461 shares during the period. Sound Income Strategies LLC raised its holdings in Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after buying an additional 204 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Astera Labs by 55.7% during the 1st quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after buying an additional 284 shares during the period. 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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