Manuel Alba Sells 63,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $89.95, for a total transaction of $5,666,850.00. Following the completion of the sale, the director owned 420,854 shares in the company, valued at $37,855,817.30. The trade was a 13.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Thursday, July 3rd, Manuel Alba sold 30,991 shares of Astera Labs stock. The shares were sold at an average price of $91.13, for a total transaction of $2,824,209.83.
• On Friday, June 20th, Manuel Alba sold 20,150 shares of Astera Labs stock. The shares were sold at an average price of $100.84, for a total transaction of $2,031,926.00.
• On Thursday, May 29th, Manuel Alba sold 600 shares of Astera Labs stock. The shares were sold at an average price of $100.00, for a total transaction of $60,000.00.

Astera Labs Trading Down 1.3%

ALAB stock traded down $1.18 during midday trading on Monday, reaching $89.62. The company had a trading volume of 2,705,097 shares, compared to its average volume of 4,310,752. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The company has a market capitalization of $14.78 billion, a P/E ratio of 908.00, a PEG ratio of 4.27 and a beta of 1.18. The company has a 50 day moving average of $87.73 and a two-hundred day moving average of $89.30.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results 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. The company had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The company's revenue was up 144.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

ALAB has been the subject of a number of research reports. William Blair initiated coverage on shares of Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating for the company. Raymond James Financial initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They set an "outperform" rating and a $82.00 target price for the company. Barclays raised their target price on shares of Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Citigroup reduced their target price on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Stifel Nicolaus reduced their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Astera Labs presently has an average rating of "Buy" and a consensus target price of $100.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Proficio Capital Partners LLC raised its holdings in shares of Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock valued at $2,864,000 after purchasing an additional 390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Astera Labs by 2,824.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company's stock valued at $20,467,000 after purchasing an additional 149,240 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after purchasing an additional 792,153 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Astera Labs by 73.6% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company's stock worth $954,000 after acquiring an additional 6,783 shares during the period. Finally, Taylor Frigon Capital Management LLC bought a new position in Astera Labs in the 1st quarter worth $1,887,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.