Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells 52,743 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 52,743 shares of the stock in a transaction dated 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 directly owns 512,218 shares in the company, valued at approximately $51,662,307.48. The trade was a 9.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Tuesday, June 17th, Jitendra Mohan sold 106,510 shares of Astera Labs stock. The stock was 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 value 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 value 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 value 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 Trading Up 1.5%

Shares of NASDAQ:ALAB traded up $1.31 on Tuesday, hitting $87.26. The company had a trading volume of 7,503,388 shares, compared to its average volume of 4,181,679. The company has a market cap of $14.39 billion, a PE ratio of 396.65, a PEG ratio of 4.37 and a beta of 1.38. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The business has a 50 day moving average of $82.17 and a 200 day moving average of $91.46.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm's quarterly revenue was up 144.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS. As a group, equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

ALAB has been the topic of a number of analyst reports. Raymond James Financial initiated coverage on Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price target on the stock. Citigroup lowered their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Evercore ISI raised their price objective 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. William Blair initiated coverage on shares of Astera Labs in a research report on Thursday, May 22nd. They set an "outperform" rating on the stock. Finally, Susquehanna assumed coverage on shares of Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price for the company. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $100.00.

Institutional Trading of Astera Labs

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Proficio Capital Partners LLC grew its position in shares of Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock valued at $2,864,000 after purchasing an additional 390 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Astera Labs by 2,824.4% in the 4th 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 last quarter. JPMorgan Chase & Co. boosted its stake in Astera Labs by 50.5% in the 4th 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 last quarter. Aigen Investment Management LP purchased a new stake in Astera Labs in the 4th quarter valued at about $1,573,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Astera Labs during the 4th quarter valued at about $3,476,000. 60.47% of the stock is owned by hedge funds and other 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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