Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 128,250 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 128,250 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $90.02, for a total value of $11,545,065.00. Following the sale, the chief executive officer now directly owns 541,125 shares in the company, valued at $48,712,072.50. This represents a 19.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jitendra Mohan also recently made the following trade(s):

• 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 transaction of $8,281,525.79.
• On Wednesday, May 14th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00.
• On Thursday, May 8th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $71.05, for a total value of $5,328,750.00.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $92.17 on Thursday. 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 $15.20 billion, a price-to-earnings ratio of -53.28, a PEG ratio of 6.18 and a beta of 0.33. The business has a 50-day moving average of $68.03 and a 200-day moving average of $92.42.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 144.1% compared to the same quarter last year. Research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALAB shares. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Susquehanna assumed coverage on Astera Labs in a report on Friday, May 16th. They set a “neutral” rating and a $80.00 price target on the stock. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a “buy” rating in a report on Wednesday, May 7th. Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price for the company in a research note on Monday, May 12th. Finally, Craig Hallum boosted their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Astera Labs has an average rating of “Buy” and an average target price of $100.00.

Hedge Funds Weigh In On Astera Labs

Large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its position in shares of Astera Labs by 1,382.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,033 shares of the company’s stock valued at $241,000 after buying an additional 3,761 shares during the last quarter. Focus Partners Wealth lifted its holdings in Astera Labs by 0.8% in the first quarter. Focus Partners Wealth now owns 432,806 shares of the company’s stock worth $25,826,000 after acquiring an additional 3,464 shares during the last quarter. Optimize Financial Inc bought a new position in shares of Astera Labs during the first quarter valued at approximately $1,718,000. Empowered Funds LLC raised its position in shares of Astera Labs by 917.3% during the 1st quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock worth $277,000 after purchasing an additional 4,183 shares during the period. Finally, Fred Alger Management LLC lifted its holdings in shares of Astera Labs by 13.0% in the 1st quarter. Fred Alger Management LLC now owns 1,560,033 shares of the company’s stock worth $93,087,000 after purchasing an additional 179,638 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

About Astera Labs

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.