Jitendra Mohan Sells 76,258 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 76,258 shares of Astera Labs stock in a transaction on Monday, July 21st. The shares were sold at an average price of $112.72, for a total transaction of $8,595,801.76. Following the completion of the sale, the chief executive officer owned 475,421 shares in the company, valued at $53,589,455.12. The trade was a 13.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Jitendra Mohan also recently made the following trade(s):

• On Friday, July 18th, Jitendra Mohan sold 45,755 shares of Astera Labs stock. The shares were sold at an average price of $100.25, for a total transaction of $4,586,938.75.
• On Thursday, July 17th, Jitendra Mohan sold 80,503 shares of Astera Labs stock. The shares were sold at an average price of $94.37, for a total transaction of $7,597,068.11.
• On Thursday, July 10th, Jitendra Mohan sold 11,282 shares of Astera Labs stock. The shares were sold at an average price of $102.46, for a total transaction of $1,155,953.72.
• On Wednesday, July 9th, Jitendra Mohan sold 6,982 shares of Astera Labs stock. The stock was sold at an average price of $100.01, for a total transaction of $698,269.82.
• On Friday, June 20th, Jitendra Mohan sold 52,743 shares of Astera Labs stock. The stock was sold at an average price of $100.86, for a total transaction of $5,319,658.98.
• On Tuesday, June 17th, Jitendra Mohan sold 106,510 shares of Astera Labs stock. The stock was sold at an average price of $94.54, for a total transaction of $10,069,455.40.
• On Thursday, May 29th, Jitendra Mohan sold 14,200 shares of Astera Labs stock. The stock was sold at an average price of $100.00, for a total transaction of $1,420,000.00.
• On Monday, May 19th, Jitendra Mohan sold 128,250 shares of Astera Labs stock. The shares were sold at an average price of $90.02, for a total transaction of $11,545,065.00.
• On Friday, May 16th, Jitendra Mohan 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 Wednesday, May 14th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The stock was sold at an average price of $90.90, for a total transaction of $6,817,500.00.

Astera Labs Price Performance

Shares of ALAB stock traded up $1.05 on Friday, hitting $122.73. The stock had a trading volume of 1,560,598 shares, compared to its average volume of 4,743,873. The business has a 50 day moving average of $95.39 and a 200 day moving average of $86.49. The stock has a market cap of $20.24 billion, a price-to-earnings ratio of 558.18, a price-to-earnings-growth ratio of 5.61 and a beta of 1.18. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. During the same quarter last year, the company posted $0.10 earnings per share. The firm's quarterly revenue was up 144.1% compared to the same quarter last year. As a group, research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ALAB shares. 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. Citigroup reduced 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. 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 research note on Tuesday. Evercore ISI upped their price objective on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Finally, Wall Street Zen lowered shares of Astera Labs from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of "Moderate Buy" and an average price target of $102.67.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC boosted its position in shares of Astera Labs by 79.3% in the second quarter. CWM LLC now owns 6,734 shares of the company's stock valued at $609,000 after acquiring an additional 2,979 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in shares of Astera Labs by 142.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,366 shares of the company's stock worth $1,028,000 after acquiring an additional 6,677 shares in the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of Astera Labs during the second quarter worth approximately $36,000. IFP Advisors Inc raised its stake in shares of Astera Labs by 61.5% during the second quarter. IFP Advisors Inc now owns 4,135 shares of the company's stock worth $378,000 after acquiring an additional 1,575 shares in the last quarter. Finally, Callan Family Office LLC purchased a new position in shares of Astera Labs during the second quarter worth approximately $260,000. 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.