Michael Truett Tate Sells 100,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Key Points

• Michael Truett Tate, CFO of Astera Labs, sold 100,000 shares of the company's stock for approximately $19.12 million, leading to a 19.94% decrease in his stake in the company.
• Astera Labs reported a 149.5% increase in quarterly revenue compared to the same period last year, achieving $191.93 million in revenue and an EPS of $0.44, surpassing analyst expectations.
• Astera Labs' stock is currently being rated as a "Moderate Buy" by analysts, with a consensus target price of $129.13, following recent research adjustments from several financial institutions.

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CFO Michael Truett Tate sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $191.19, for a total value of $19,119,000.00. Following the sale, the chief financial officer directly owned 401,496 shares in the company, valued at $76,762,020.24. This trade represents a 19.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Michael Truett Tate also recently made the following trade(s):

• On Thursday, August 7th, Michael Truett Tate sold 100,000 shares of Astera Labs stock. The stock was sold at an average price of $171.38, for a total value of $17,138,000.00.
• On Friday, May 30th, Michael Truett Tate sold 500,000 shares of Astera Labs stock. The shares were sold at an average price of $90.23, for a total value of $45,115,000.00.
• On Friday, May 16th, Michael Truett Tate sold 9,107 shares of Astera Labs stock. The shares were sold at an average price of $90.67, for a total value of $825,731.69.

Astera Labs Stock Performance

Shares of ALAB stock traded down $2.95 during trading hours on Thursday, hitting $190.69. 4,285,857 shares of the company were exchanged, compared to its average volume of 4,980,239. Astera Labs, Inc. has a one year low of $36.85 and a one year high of $199.47. The business's 50-day simple moving average is $111.59 and its two-hundred day simple moving average is $88.77. The stock has a market capitalization of $31.70 billion, a price-to-earnings ratio of 340.52, a P/E/G ratio of 4.87 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The business had revenue of $191.93 million for the quarter, compared to analysts' expectations of $172.46 million. During the same quarter last year, the company posted $0.13 earnings per share. The company's quarterly revenue was up 149.5% compared to the same quarter last year. As a group, analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

ALAB has been the topic of a number of recent research reports. Wall Street Zen lowered Astera Labs from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Stifel Nicolaus set a $145.00 price target on Astera Labs and gave the stock a "buy" rating in a research note on Monday, August 4th. Northland Securities lowered Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price target on the stock. in a research note on Tuesday, July 22nd. Evercore ISI upped their price objective on Astera Labs from $104.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. Finally, Barclays restated an "overweight" rating and set a $155.00 price objective (up from $75.00) on shares of Astera Labs in a report on Thursday, August 7th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Astera Labs currently has an average rating of "Moderate Buy" and a consensus target price of $129.13.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group acquired a new position in Astera Labs in the second quarter worth approximately $29,000. Bernard Wealth Management Corp. acquired a new position in Astera Labs in the second quarter worth approximately $36,000. Clearstead Trust LLC grew its position in Astera Labs by 46,100.0% in the second quarter. Clearstead Trust LLC now owns 462 shares of the company's stock worth $42,000 after buying an additional 461 shares during the last quarter. Advisors Asset Management Inc. grew its position in Astera Labs by 68.6% in the second quarter. Advisors Asset Management Inc. now owns 477 shares of the company's stock worth $43,000 after buying an additional 194 shares during the last quarter. Finally, Manchester Capital Management LLC grew its position in Astera Labs by 141.5% in the second quarter. Manchester Capital Management LLC now owns 483 shares of the company's stock worth $44,000 after buying an additional 283 shares during the last quarter. 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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