Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 2,500 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Michael E. Hurlston sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the transaction, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Astera Labs Stock Performance

ALAB stock traded down $1.47 on Thursday, reaching $88.43. The company’s stock had a trading volume of 3,857,298 shares, compared to its average volume of 5,509,518. The business has a fifty day simple moving average of $118.33 and a two-hundred day simple moving average of $84.52. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a market cap of $14.34 billion and a PE ratio of -51.12.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. As a group, research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors have recently added to or reduced their stakes in ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the fourth quarter worth $25,000. Hollencrest Capital Management bought a new position in Astera Labs in the third quarter worth $26,000. Steward Partners Investment Advisory LLC raised its holdings in Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the fourth quarter valued at $28,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the fourth quarter valued at $36,000. Institutional investors own 60.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALAB shares. Morgan Stanley dropped their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Finally, Craig Hallum lifted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $115.33.

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.