Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) COO Sells 76,373 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) COO Sanjay Gajendra sold 76,373 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $98.39, for a total value of $7,514,339.47. Following the sale, the chief operating officer now directly owns 715,000 shares of the company's stock, valued at $70,348,850. This represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, June 4th, Sanjay Gajendra sold 88,627 shares of Astera Labs stock. The shares were sold at an average price of $98.11, for a total value of $8,695,194.97.
• On Tuesday, May 27th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The shares were sold at an average price of $98.25, for a total value of $16,211,250.00.
• On Friday, May 16th, Sanjay Gajendra sold 91,337 shares of Astera Labs stock. The shares were 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 stock was sold at an average price of $71.76, for a total value of $11,840,400.00.

Astera Labs Stock Down 7.7%

Shares of ALAB stock traded down $7.12 on Monday, reaching $85.95. The company's stock had a trading volume of 7,116,721 shares, compared to its average volume of 4,168,215. The company has a market capitalization of $14.17 billion, a P/E ratio of 390.70, a PEG ratio of 4.37 and a beta of 1.38. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The stock's 50 day simple moving average is $81.64 and its 200-day simple moving average is $91.70.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million for 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 company's quarterly revenue was up 144.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. Research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

ALAB has been the topic of a number of research analyst reports. Needham & Company LLC cut their price target on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Astera Labs from a "hold" rating to a "buy" rating in a research note on Saturday. Roth Capital set a $100.00 target price on Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial started coverage on Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock. Finally, Stifel Nicolaus reduced their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $100.00.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its position in Astera Labs by 4.4% during the first quarter. Rhumbline Advisers now owns 104,345 shares of the company's stock valued at $6,226,000 after purchasing an additional 4,396 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Astera Labs by 1,382.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,033 shares of the company's stock valued at $241,000 after purchasing an additional 3,761 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Astera Labs by 0.8% during the 1st quarter. Focus Partners Wealth now owns 432,806 shares of the company's stock valued at $25,826,000 after buying an additional 3,464 shares in the last quarter. Optimize Financial Inc bought a new stake in Astera Labs in the 1st quarter worth approximately $1,718,000. Finally, Empowered Funds LLC lifted its position in Astera Labs by 917.3% in the 1st quarter. Empowered Funds LLC now owns 4,639 shares of the company's stock worth $277,000 after buying an additional 4,183 shares during the last quarter. 60.47% of the stock is currently owned by 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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