Jitendra Mohan Sells 80,503 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 80,503 shares of the company's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $94.37, for a total value of $7,597,068.11. Following the sale, the chief executive officer owned 495,757 shares of the company's stock, valued at $46,784,588.09. This trade represents a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, July 18th, Jitendra Mohan sold 45,755 shares of Astera Labs stock. The stock was sold at an average price of $100.25, for a total value of $4,586,938.75.
• On Thursday, July 10th, Jitendra Mohan sold 11,282 shares of Astera Labs stock. The stock was sold at an average price of $102.46, for a total value 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 value 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 value 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 value of $10,069,455.40.
• On Thursday, May 29th, Jitendra Mohan sold 14,200 shares of Astera Labs stock. The shares were sold at an average price of $100.00, for a total value 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 value of $11,545,065.00.
• On Friday, May 16th, Jitendra Mohan sold 91,337 shares of Astera Labs stock. The shares were sold at an average price of $90.67, for a total value of $8,281,525.79.
• On Wednesday, May 14th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $90.90, for a total value of $6,817,500.00.
• On Thursday, May 8th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $71.05, for a total value of $5,328,750.00.

Astera Labs Trading Up 19.3%

ALAB traded up $19.76 during trading on Monday, reaching $121.89. 14,085,646 shares of the company were exchanged, compared to its average volume of 4,480,130. The stock has a market cap of $20.10 billion, a P/E ratio of 554.07, a PEG ratio of 4.79 and a beta of 1.18. The firm has a 50 day moving average of $92.81 and a 200 day moving average of $86.33. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

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 (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The company had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. The company's revenue for the quarter was up 144.1% compared to the same quarter last year. As a group, analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on ALAB. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective for the company in a research report on Monday, May 12th. Barclays lifted their price target on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Citigroup lowered their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Susquehanna began coverage on Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target for the company. Finally, Stifel Nicolaus lifted their price objective on Astera Labs from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $100.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Astera Labs in the second quarter valued at $29,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Astera Labs in the fourth quarter valued at $43,000. NewEdge Advisors LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at $63,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at $65,000. Institutional investors own 60.47% of the company's stock.

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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