Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 7,814 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 7,814 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total value of $837,426.38. Following the completion of the sale, the director now owns 121,803 shares in the company, valued at approximately $13,053,627.51. This trade represents a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Astera Labs Stock Down 1.7 %

ALAB opened at $105.48 on Wednesday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $113.85. The business has a 50 day moving average of $72.05 and a 200-day moving average of $60.30.

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

Analyst Ratings Changes

A number of analysts have recently commented on ALAB shares. Citigroup started coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Evercore ISI reduced their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. 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 report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Barclays increased their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $94.67.

Institutional Trading of Astera Labs

A number of hedge funds have recently made changes to their positions in the business. Strategic Blueprint LLC lifted its position in shares of Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after buying an additional 195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Astera Labs by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after purchasing an additional 284 shares during the period. Hollencrest Capital Management bought a new position in shares of Astera Labs during the third quarter worth approximately $26,000. Venturi Wealth Management LLC increased its stake in shares of Astera Labs by 26.3% during the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares during the period. Finally, US Bancorp DE bought a new position in shares of Astera Labs during the third quarter worth approximately $46,000.

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.