Astera Labs, Inc. (NASDAQ:ALAB) COO Sanjay Gajendra Sells 165,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) COO Sanjay Gajendra sold 165,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $98.25, for a total transaction of $16,211,250.00. Following the sale, the chief operating officer now owns 735,000 shares in the company, valued at approximately $72,213,750. The trade was a 18.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Sanjay Gajendra also recently made the following trade(s):

• On Friday, May 16th, Sanjay Gajendra 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 Thursday, May 8th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00.

Astera Labs Stock Up 2.4%

NASDAQ ALAB traded up $2.20 during trading hours on Monday, hitting $92.92. 2,893,730 shares of the company were exchanged, compared to its average volume of 4,039,937. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The stock has a 50-day moving average price of $71.91 and a 200 day moving average price of $92.67. The stock has a market cap of $15.32 billion, a PE ratio of -53.71, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released 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. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The firm had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. During the same quarter in the previous year, the company posted $0.10 EPS. The company's revenue for the quarter was up 144.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ALAB shares. Barclays upped their price objective on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Susquehanna started coverage on Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target on the stock. Citigroup cut their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price on the stock in a report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $100.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Astera Labs by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 9,297,476 shares of the company's stock worth $554,780,000 after purchasing an additional 85,846 shares during the period. Alliancebernstein L.P. lifted its stake in Astera Labs by 114.2% in the first quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company's stock worth $501,289,000 after purchasing an additional 4,478,741 shares during the last quarter. Atreides Management LP lifted its stake in Astera Labs by 153.3% in the first quarter. Atreides Management LP now owns 4,652,264 shares of the company's stock worth $277,601,000 after purchasing an additional 2,815,614 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after buying an additional 792,153 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in shares of Astera Labs by 318.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after buying an additional 1,384,498 shares during the last quarter. Institutional investors own 60.47% of the company's stock.

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.