Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 75,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 75,000 shares of the business's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.05, for a total value of $5,328,750.00. Following the completion of the transaction, the chief executive officer now directly owns 575,000 shares in the company, valued at approximately $40,853,750. This represents a 11.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, February 19th, Jitendra Mohan sold 350,680 shares of Astera Labs stock. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80.

Astera Labs Stock Up 2.5%

Shares of Astera Labs stock traded up $2.27 during trading on Thursday, hitting $92.93. 2,198,634 shares of the stock traded hands, compared to its average volume of 3,899,652. The stock has a market cap of $15.33 billion, a price-to-earnings ratio of -53.78, a PEG ratio of 6.18 and a beta of 0.33. The firm's fifty day moving average is $65.52 and its 200-day moving average is $91.75. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Astera Labs's quarterly revenue was up 144.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. On average, analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of ALAB. Proficio Capital Partners LLC lifted its holdings in Astera Labs by 1.8% in the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after buying an additional 390 shares during the period. Peregrine Investment Management Inc. purchased a new stake in Astera Labs in the 4th quarter worth approximately $10,701,000. Elemental Capital Partners LLC purchased a new stake in Astera Labs in the 4th quarter worth approximately $1,346,000. Renaissance Capital LLC lifted its holdings in Astera Labs by 381.0% in the 4th quarter. Renaissance Capital LLC now owns 114,276 shares of the company's stock worth $15,136,000 after buying an additional 90,516 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings 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 period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALAB has been the topic of a number of analyst reports. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a research note on Tuesday, January 28th. Raymond James initiated coverage on Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective on the stock. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Needham & Company LLC decreased their price objective 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. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $99.69.

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.