Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $4,586,938.75 in Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 45,755 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $100.25, for a total value of $4,586,938.75. Following the transaction, the chief executive officer directly owned 488,131 shares of the company's stock, valued at $48,935,132.75. This represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 value of $7,597,068.11.
• On Thursday, July 10th, Jitendra Mohan sold 11,282 shares of Astera Labs stock. The stock was sold at an average price of $102.46, for a total value of $1,155,953.72.
• On Wednesday, July 9th, Jitendra Mohan sold 6,982 shares of Astera Labs stock. The stock was sold at an average price of $100.01, for a total value 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 stock was 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 stock was sold at an average price of $90.67, for a total transaction of $8,281,525.79.
• On Wednesday, May 14th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00.
• On Thursday, May 8th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00.

Astera Labs Stock Down 4.1%

NASDAQ:ALAB traded down $4.98 during trading hours on Tuesday, hitting $116.91. 7,674,540 shares of the company traded hands, compared to its average volume of 4,492,860. The firm's 50-day simple moving average is $92.81 and its 200-day simple moving average is $86.33. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a market cap of $19.28 billion, a PE ratio of 531.43, a PEG ratio of 4.79 and a beta of 1.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. As a group, equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Astera Labs by 2,824.4% in 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 valued at $20,467,000 after acquiring an additional 149,240 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after purchasing an additional 792,153 shares during the last quarter. Pacific Point Advisors LLC grew its stake in Astera Labs by 75.0% in the first quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company's stock valued at $418,000 after purchasing an additional 3,000 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Astera Labs by 73.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company's stock valued at $954,000 after purchasing an additional 6,783 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC purchased a new position in Astera Labs in the first quarter valued at about $1,887,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Needham & Company LLC reduced their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Barclays boosted their price target on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Northland Securities downgraded shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 target price for the company. in a research report on Tuesday. Susquehanna assumed coverage on shares of Astera Labs in a research report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target on the stock. Finally, Stifel Nicolaus increased their price objective on shares of Astera Labs from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Friday. Three 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 stock. Based on data from MarketBeat.com, Astera Labs has an average rating of "Moderate Buy" and a consensus price target of $102.67.

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.