Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $3,992,310.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the transaction, the director now owns 444,863 shares of the company’s stock, valued at approximately $28,190,968.31. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Astera Labs Stock Performance

NASDAQ ALAB traded down $2.74 during trading hours on Friday, hitting $52.94. The company had a trading volume of 5,757,559 shares, compared to its average volume of 3,708,884. The business has a 50 day moving average of $78.49 and a 200-day moving average of $90.43. The company has a market cap of $8.58 billion and a PE ratio of -30.60. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Sell-side analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALAB has been the topic of a number of analyst reports. Stifel Nicolaus increased their price target on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Raymond James assumed coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $112.77.

Hedge Funds Weigh In On Astera Labs

Hedge funds have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after purchasing an additional 284 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Astera Labs during the third quarter worth about $1,524,000. Holocene Advisors LP acquired a new stake in shares of Astera Labs during the third quarter worth about $3,358,000. Quarry LP purchased a new position in shares of Astera Labs during the third quarter worth about $109,000. Finally, Stifel Financial Corp increased its position in Astera Labs by 141.2% in the 3rd quarter. Stifel Financial Corp now owns 98,461 shares of the company’s stock valued at $5,158,000 after acquiring an additional 57,638 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

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.