Michael Truett Tate Sells 125,800 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 125,800 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Michael Truett Tate also recently made the following trade(s):

• On Tuesday, February 18th, Michael Truett Tate sold 34,474 shares of Astera Labs stock. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18.
• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00.
• On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The shares were sold at an average price of $102.94, for a total transaction of $17,190,980.00.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $74.35 on Friday. The stock has a market capitalization of $12.06 billion and a price-to-earnings ratio of -42.98. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company’s fifty day moving average is $111.87 and its two-hundred day moving average is $86.51.

Astera Labs (NASDAQ:ALAB) last issued its earnings results 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 10.40% and a negative net margin of 21.05%. Sell-side analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Trading of Astera Labs

Large investors have recently modified their holdings of the company. Tidal Investments LLC increased its holdings in shares of Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after acquiring an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Astera Labs in the 3rd quarter worth about $530,000. Avior Wealth Management LLC acquired a new stake in shares of Astera Labs in the 3rd quarter worth about $361,000. Maverick Capital Ltd. increased its holdings in shares of Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares during the period. Finally, Bank of Hawaii acquired a new stake in shares of Astera Labs in the 3rd quarter worth about $1,409,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Citigroup assumed coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. One 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 currently has a consensus rating of “Buy” and a consensus 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.