Michael Truett Tate Sells 7,398 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 7,398 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $671,812.38. Following the completion of the sale, the chief financial officer now owns 286,424 shares in the company, valued at $26,010,163.44. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, October 9th, Michael Truett Tate sold 100,000 shares of Astera Labs stock. The shares were sold at an average price of $62.03, for a total transaction of $6,203,000.00.
• On Thursday, August 29th, Michael Truett Tate sold 50,000 shares of Astera Labs stock. The stock was sold at an average price of $47.98, for a total transaction of $2,399,000.00.

Astera Labs Stock Up 2.4 %

Shares of NASDAQ ALAB traded up $2.24 during trading on Wednesday, hitting $97.42. 5,780,433 shares of the company were exchanged, compared to its average volume of 3,100,462. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $100.09. The company has a fifty day moving average price of $66.06 and a 200-day moving average price of $59.22.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of analyst reports. Craig Hallum raised their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Roth Mkm raised their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs has a consensus rating of “Buy” and an average price target of $94.67.

Institutional Trading of Astera Labs

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in Astera Labs in the 3rd quarter valued at about $26,000. US Bancorp DE purchased a new stake in Astera Labs during the third quarter worth about $46,000. First Horizon Advisors Inc. purchased a new stake in Astera Labs during the third quarter worth about $49,000. Allworth Financial LP increased its stake in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares during the period. Finally, Amalgamated Bank purchased a new stake in Astera Labs during the second quarter worth about $74,000.

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.