Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $3,150,000.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the completion of the sale, the director now owns 506,863 shares in the company, valued at approximately $25,343,150. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The stock was sold at an average price of $50.32, for a total value of $1,861,840.00.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $54.75 on Friday. The firm’s fifty day moving average price is $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 announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $72.41 million. Astera Labs’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts anticipate that Astera Labs, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALAB shares. Roth Mkm decreased their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Barclays lowered their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus cut their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Evercore ISI decreased their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Craig Hallum cut their target price on Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs currently has an average rating of “Buy” and an average price target of $71.36.

Institutional Trading of Astera Labs

A number of institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Astera Labs during the first quarter worth $18,666,000. Value Aligned Research Advisors LLC bought a new stake in shares of Astera Labs during the 1st quarter valued at $1,886,000. Amazon Com Inc. purchased a new stake in Astera Labs during the 1st quarter worth about $20,608,000. Capstone Investment Advisors LLC bought a new position in Astera Labs in the 1st quarter worth about $4,629,000. Finally, Jennison Associates LLC purchased a new position in Astera Labs during the 1st quarter valued at about $11,283,000.

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.