Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara Sells 42,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 42,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.56, for a total transaction of $4,055,520.00. Following the completion of the transaction, the general counsel now owns 258,564 shares of the company’s stock, valued at $24,966,939.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Philip Mazzara also recently made the following trade(s):

• On Wednesday, October 9th, Philip Mazzara sold 25,000 shares of Astera Labs stock. The shares were sold at an average price of $60.74, for a total transaction of $1,518,500.00.
• On Monday, August 26th, Philip Mazzara sold 8,000 shares of Astera Labs stock. The stock was sold at an average price of $43.12, for a total value of $344,960.00.
• On Friday, August 23rd, Philip Mazzara sold 42,090 shares of Astera Labs stock. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70.

Astera Labs Price Performance

ALAB stock opened at $90.75 on Wednesday. The stock has a 50-day moving average price of $60.03 and a 200-day moving average price of $58.84. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $100.09.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue was up 47.1% compared to the same quarter last year. As a group, equities research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Astera Labs

Institutional investors have recently modified their holdings of the company. Hollencrest Capital Management bought a new stake in Astera Labs during the 3rd quarter valued at $26,000. US Bancorp DE acquired a new position in shares of Astera Labs during the third quarter valued at about $46,000. First Horizon Advisors Inc. acquired a new position in shares of Astera Labs during the third quarter valued at about $49,000. Allworth Financial LP raised its holdings in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Astera Labs in the 2nd quarter worth about $74,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley lifted their price target on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Evercore ISI reduced their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus raised their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $92.36.

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.