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 stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $94.37, for a total value of $7,597,068.11. Following the sale, the chief executive officer directly owned 495,757 shares in the company, valued at approximately $46,784,588.09. The trade was a 13.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, July 21st, Jitendra Mohan sold 76,258 shares of Astera Labs stock. The shares were sold at an average price of $112.72, for a total value of $8,595,801.76.
• 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 value of $4,586,938.75.
• 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 value of $1,155,953.72.
• On Wednesday, July 9th, Jitendra Mohan sold 6,982 shares of Astera Labs stock. The shares were 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $90.90, for a total value of $6,817,500.00.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB traded up $2.20 during mid-day trading on Thursday, hitting $121.68. 3,311,780 shares of the company traded hands, compared to its average volume of 5,230,069. The firm has a market cap of $20.07 billion, a P/E ratio of 553.12, a PEG ratio of 5.61 and a beta of 1.18. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm's 50 day simple moving average is $95.39 and its 200 day simple moving average is $86.49.

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

Institutional Investors Weigh In On Astera Labs

Hedge funds have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs during the 4th quarter valued at about $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Astera Labs in the 2nd quarter valued at approximately $29,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of Astera Labs in the 4th quarter valued at approximately $43,000. Bernard Wealth Management Corp. acquired a new position in shares of Astera Labs in the 2nd quarter valued at approximately $36,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Astera Labs in the 4th quarter valued at approximately $63,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on ALAB shares. Susquehanna started coverage on Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target on the stock. Roth Capital set a $100.00 price target on Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley raised Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a research note on Monday, May 12th. Northland Securities lowered 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. Finally, William Blair assumed coverage on Astera Labs in a research note on Thursday, May 22nd. They issued an "outperform" rating on the stock. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $102.67.

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.