Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba Sells 63,000 Shares of Stock

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

Astera Labs Trading Down 4.9 %

NASDAQ:ALAB opened at $52.94 on Friday. The stock has a market capitalization 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. The firm has a fifty day simple moving average of $78.49 and a 200 day simple moving average of $90.43.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 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%. On average, equities analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several recent analyst reports. Raymond James started coverage on Astera Labs in a report on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective on the stock. Barclays increased their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley cut their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Craig Hallum boosted their price target on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average price target of $112.77.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Astera Labs by 354.9% during the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares during the period. Alliancebernstein L.P. boosted its position in Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after purchasing an additional 3,760,765 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after purchasing an additional 792,153 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after purchasing an additional 1,384,498 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in shares of Astera Labs in the fourth quarter valued at about $229,991,000. 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.