Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $31,389,366.80 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the transaction, the chief executive officer now directly owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Jitendra Mohan also recently made the following trade(s):

• On Monday, November 25th, Jitendra Mohan sold 173,366 shares of Astera Labs stock. The stock was sold at an average price of $110.12, for a total value of $19,091,063.92.

Astera Labs Stock Down 3.1 %

Astera Labs stock opened at $85.72 on Monday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The business has a fifty day moving average of $116.72 and a two-hundred day moving average of $85.48. The firm has a market cap of $13.90 billion and a P/E ratio of -49.55.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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%. Equities analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALAB. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley dropped their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Barclays increased their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. increased their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. 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 MarketBeat, the company has an average rating of “Buy” and an average price target of $115.33.

Institutional Trading of Astera Labs

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its holdings in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs in the 4th quarter worth $25,000. Strategic Blueprint LLC raised its stake in Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after acquiring an additional 195 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Astera Labs in the 4th quarter worth $28,000. Finally, GAMMA Investing LLC raised its stake in Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

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.