Philip Mazzara Sells 50,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares of the company’s stock, valued at $16,723,139.14. The trade was a 20.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, February 18th, Philip Mazzara sold 7,536 shares of Astera Labs stock. The shares were sold at an average price of $92.07, for a total value of $693,839.52.

Astera Labs Stock Down 3.1 %

ALAB opened at $85.72 on Friday. The firm has a market cap of $13.90 billion and a price-to-earnings ratio of -49.55. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The business’s 50 day moving average is $116.72 and its two-hundred day moving average is $84.84.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results 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 return on equity of 10.40% and a negative net margin of 21.05%. Equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs in the 4th quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the 3rd quarter valued at approximately $26,000. Steward Partners Investment Advisory LLC grew its stake in shares of Astera Labs by 99.0% in 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. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the 4th quarter valued at approximately $28,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter valued at approximately $36,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALAB shares. Citigroup started coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. Barclays lifted their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Astera Labs has an average rating of “Buy” and an average price target of $115.33.

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.