Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba Sells 600 Shares

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Manuel Alba sold 600 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were 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 $43,656,300. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

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

Astera Labs Stock Performance

Shares of ALAB traded up $0.04 during trading hours on Friday, hitting $90.75. The stock had a trading volume of 2,844,256 shares, compared to its average volume of 4,058,338. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of -52.46, a PEG ratio of 6.18 and a beta of 0.33. The firm has a 50-day moving average price of $73.86 and a 200 day moving average price of $92.71. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

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 the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 144.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. As a group, analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ALAB shares. Evercore ISI upped their price target on shares of Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a report on Monday, May 12th. Stifel Nicolaus cut their price target on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Barclays boosted their price target on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Needham & Company LLC lowered 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. 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 stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average 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.