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

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CEO Jitendra Mohan sold 80,503 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 495,757 shares of the company's stock, valued at $46,784,588.09. This represents a 13.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 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 shares were 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 shares were 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 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.
• On Thursday, May 8th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The stock was sold at an average price of $71.05, for a total value of $5,328,750.00.

Astera Labs Trading Up 0.9%

Astera Labs stock traded up $1.09 during mid-day trading on Wednesday, hitting $118.00. The stock had a trading volume of 5,054,062 shares, compared to its average volume of 4,510,215. The stock has a 50-day simple moving average of $92.81 and a two-hundred day simple moving average of $86.33. The stock has a market capitalization of $19.46 billion, a PE ratio of 537.08, a P/E/G ratio of 5.72 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 results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating 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 business had revenue of $159.44 million for the quarter, compared to analysts' expectations of $151.55 million. During the same quarter last year, the business earned $0.10 earnings per share. The firm's quarterly revenue was up 144.1% compared to the same quarter last year. Sell-side analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the fourth quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in Astera Labs during the second quarter worth about $29,000. Murphy & Mullick Capital Management Corp bought a new position in Astera Labs during the fourth quarter worth about $43,000. Sound Income Strategies LLC boosted its holdings in Astera Labs by 34.7% during the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after buying an additional 204 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Astera Labs by 55.7% during the first quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after buying an additional 284 shares during the last quarter. Institutional investors own 60.47% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. 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 note on Monday, May 12th. Jefferies Financial Group increased their price objective on Astera Labs from $95.00 to $130.00 and gave the stock a "buy" rating in a research note on Tuesday. Citigroup lowered their target price on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wall Street Zen lowered Astera Labs from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Needham & Company LLC lowered their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $102.67.

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.