Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells 100,000 Shares of Stock

Key Points

• Astera Labs CFO Michael Truett Tate sold 100,000 shares at an average price of $171.38, amounting to $17.14 million, which decreased his ownership percentage by 16.16%.
• The company recently reported earnings of $0.44 per share, exceeding expectations, and saw a 149.5% increase in revenue year-over-year, totaling $191.93 million.
• Astera Labs stock has a market cap of $29.82 billion and analysts maintain a consensus rating of "Moderate Buy" with a target price of $129.13.

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CFO Michael Truett Tate sold 100,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $171.38, for a total transaction of $17,138,000.00. Following the sale, the chief financial officer directly owned 518,996 shares in the company, valued at $88,945,534.48. This represents a 16.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Michael Truett Tate also recently made the following trade(s):

• On Friday, May 30th, Michael Truett Tate sold 500,000 shares of Astera Labs stock. The stock was sold at an average price of $90.23, for a total transaction of $45,115,000.00.
• On Friday, May 16th, Michael Truett Tate sold 9,107 shares of Astera Labs stock. The stock was sold at an average price of $90.67, for a total transaction of $825,731.69.

Astera Labs Price Performance

Shares of 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. The company's fifty day simple moving average is $105.95 and its 200-day simple moving average is $86.87. Astera Labs, Inc. has a one year low of $36.85 and a one year high of $185.75. The stock has a market cap of $29.82 billion, a price-to-earnings 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 announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. The company had revenue of $191.93 million during the quarter, compared to the consensus estimate of $172.46 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company's revenue for the quarter was up 149.5% compared to the same quarter last year. On average, sell-side analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALAB. Corebridge Financial Inc. boosted its holdings in shares of Astera Labs by 359.9% in the fourth quarter. Corebridge Financial Inc. now owns 814 shares of the company's stock valued at $108,000 after buying an additional 637 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Astera Labs by 204.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 85,553 shares of the company's stock valued at $11,331,000 after purchasing an additional 57,434 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Astera Labs by 33,535.3% in the fourth quarter. Russell Investments Group Ltd. now owns 11,436 shares of the company's stock valued at $1,517,000 after purchasing an additional 11,402 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Astera Labs by 145.6% in the fourth quarter. Legal & General Group Plc now owns 59,518 shares of the company's stock valued at $7,883,000 after purchasing an additional 35,285 shares during the last quarter. Finally, Bank of Nova Scotia acquired a new stake in shares of Astera Labs in the fourth quarter valued at approximately $3,324,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ALAB shares. Citigroup decreased their price objective 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. William Blair initiated coverage on shares of Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating 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 report on Wednesday, August 6th. Evercore ISI increased their price objective on shares of Astera Labs from $104.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Northland Securities lowered shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price objective on the stock. in a report on Tuesday, July 22nd. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $129.13.

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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