Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $1,861,840.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 37,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the transaction, the director now owns 498,863 shares in the company, valued at approximately $25,102,786.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Manuel Alba also recently made the following trade(s):

• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The stock was sold at an average price of $50.00, for a total transaction of $3,150,000.00.

Astera Labs Stock Up 5.1 %

NASDAQ:ALAB opened at $54.75 on Friday. The business has a 50-day simple moving average of $43.93. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $95.21.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. Astera Labs’s revenue for the quarter was up 17.8% compared to the same quarter last year. Analysts predict that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALAB has been the subject of several analyst reports. Barclays decreased their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley raised Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price target for the company in a research note on Wednesday, September 4th. Stifel Nicolaus cut their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Craig Hallum decreased their target price on Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price target on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average target price of $71.36.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. bought a new stake in Astera Labs during the first quarter valued at about $127,268,000. Capital World Investors bought a new stake in shares of Astera Labs in the 1st quarter valued at about $44,514,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Astera Labs in the 1st quarter worth approximately $44,514,000. Bamco Inc. NY bought a new position in shares of Astera Labs during the 1st quarter worth approximately $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Astera Labs during the first quarter valued at approximately $33,141,000.

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.