Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Sells 7,536 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the transaction, the general counsel now owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Philip Mazzara also recently made the following trade(s):

• On Thursday, February 20th, Philip Mazzara sold 50,000 shares of Astera Labs stock. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00.

Astera Labs Stock Down 1.6 %

Shares of Astera Labs stock traded down $1.47 during trading 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 company has a market cap of $14.34 billion and a price-to-earnings ratio of -51.12. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a 50-day simple moving average of $118.33 and a two-hundred day simple moving average of $84.52.

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

Analyst Ratings Changes

Several research analysts have commented on ALAB shares. Craig Hallum raised their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. increased their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Barclays increased their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $115.33.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALAB. Vanguard Group Inc. raised its stake in Astera Labs by 354.9% in 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 last quarter. Alliancebernstein L.P. raised its stake in Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after acquiring an additional 3,760,765 shares during the last quarter. Fred Alger Management LLC raised its stake in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the last quarter. Jennison Associates LLC purchased a new position in Astera Labs in the 4th quarter worth $229,991,000. Finally, Lord Abbett & CO. LLC raised its stake in Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock worth $240,873,000 after acquiring an additional 1,384,498 shares during the last quarter. Hedge funds and other institutional investors 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.