Philip Mazzara Sells 42,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 42,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.56, for a total value of $4,055,520.00. Following the transaction, the general counsel now owns 258,564 shares of the company’s stock, valued at approximately $24,966,939.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, October 9th, Philip Mazzara sold 25,000 shares of Astera Labs stock. The stock was sold at an average price of $60.74, for a total value of $1,518,500.00.
• On Monday, August 26th, Philip Mazzara sold 8,000 shares of Astera Labs stock. The stock was sold at an average price of $43.12, for a total value of $344,960.00.
• On Friday, August 23rd, Philip Mazzara sold 42,090 shares of Astera Labs stock. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70.

Astera Labs Price Performance

NASDAQ ALAB opened at $89.30 on Thursday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $100.09. The stock has a 50-day moving average of $61.06 and a 200-day moving average of $58.88.

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

Analysts Set New Price Targets

Several brokerages have issued reports on ALAB. Craig Hallum lifted their price target on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Barclays lifted their price target on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lifted their price target on 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 lifted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and a consensus price target of $92.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management bought a new position in Astera Labs during the 3rd quarter valued at approximately $26,000. US Bancorp DE bought a new position in Astera Labs during the 3rd quarter valued at approximately $46,000. First Horizon Advisors Inc. bought a new position in Astera Labs during the 3rd quarter valued at approximately $49,000. Allworth Financial LP raised its position in Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after purchasing an additional 891 shares during the last quarter. Finally, Amalgamated Bank bought a new position in Astera Labs during the 2nd quarter valued at approximately $74,000.

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.