Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $60,000.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Manuel Alba sold 600 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $100.00, for a total transaction of $60,000.00. Following the transaction, the director now owns 436,563 shares in the company, valued at approximately $43,656,300. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Manuel Alba also recently made the following trade(s):

• On Wednesday, April 2nd, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00.

Astera Labs Stock Performance

Shares of Astera Labs stock traded down $2.26 during trading on Thursday, reaching $92.96. The company had a trading volume of 569,186 shares, compared to its average volume of 4,650,903. The firm's fifty day moving average is $73.24 and its 200-day moving average is $92.71. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The company has a market cap of $15.33 billion, a price-to-earnings ratio of -53.73, 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 quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share 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 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%. The business's revenue for the quarter was up 144.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Astera Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs in the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC grew its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after buying an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Astera Labs during the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs in the 4th quarter valued at $36,000. Finally, Global Retirement Partners LLC lifted its stake in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALAB. Barclays increased their target price on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Craig Hallum raised their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. William Blair initiated coverage on shares of Astera Labs in a report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Finally, Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective on the stock in a report on Monday, May 12th. One research 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. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $100.00.

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.