Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $230,200.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $85.72 on Friday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a market cap of $13.90 billion and a price-to-earnings ratio of -49.55. The business has a fifty day moving average of $116.72 and a 200-day moving average of $85.13.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Citigroup initiated coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lowered their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Astera Labs has a consensus rating of “Buy” and a consensus target price of $115.33.

Institutional Trading of Astera Labs

Institutional investors have recently modified their holdings of the company. Tidal Investments LLC lifted its holdings in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after buying an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Astera Labs in the third quarter valued at $530,000. Avior Wealth Management LLC acquired a new stake in shares of Astera Labs in the third quarter valued at $361,000. Maverick Capital Ltd. lifted its holdings in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after buying an additional 159,480 shares during the period. Finally, Bank of Hawaii acquired a new stake in shares of Astera Labs in the third quarter valued at $1,409,000. Institutional investors and hedge funds 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.