Jitendra Mohan Sells 171,064 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALABGet Free Report) CEO Jitendra Mohan sold 171,064 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the transaction, the chief executive officer now directly owns 628,895 shares in the company, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Friday, October 11th, Jitendra Mohan sold 47,667 shares of Astera Labs stock. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42.

Astera Labs Trading Down 1.7 %

NASDAQ ALAB opened at $105.48 on Wednesday. The company has a 50 day moving average of $72.05 and a 200-day moving average of $60.30. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $113.85.

Astera Labs (NASDAQ:ALABGet Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. Sell-side analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

Institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. acquired a new stake in Astera Labs during the first quarter worth about $952,000. Vanguard Group Inc. bought a new stake in shares of Astera Labs during the 1st quarter worth approximately $127,268,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Astera Labs during the 1st quarter worth approximately $44,514,000. Janus Henderson Group PLC bought a new position in Astera Labs in the first quarter valued at approximately $20,025,000. Finally, Rokos Capital Management LLP acquired a new position in Astera Labs during the first quarter valued at approximately $1,484,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALAB shares. JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Citigroup began coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Roth Mkm upped their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, 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 report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $94.67.

View Our Latest Research Report on ALAB

About Astera Labs

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Astera Labs (NASDAQ:ALAB)

Receive News & Ratings for Astera Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astera Labs and related companies with MarketBeat.com's FREE daily email newsletter.