Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $3,177,000.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 30,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $105.90, for a total value of $3,177,000.00. Following the sale, the director now owns 3,765 shares of the company’s stock, valued at approximately $398,713.50. The trade was a 88.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $99.60 on Friday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $113.85. The business has a 50-day moving average of $74.17 and a 200-day moving average of $60.84.

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

Institutional Trading of Astera Labs

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

Wall Street Analysts Forecast Growth

ALAB has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Stifel Nicolaus increased their target price on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm boosted 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 target price on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI decreased their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $94.67.

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.