Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Insider Sells 76,701 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now owns 855,000 shares in the company, valued at approximately $38,748,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Astera Labs Stock Up 7.2 %

Shares of ALAB opened at $50.51 on Friday. The company’s fifty day moving average is $44.25. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $95.21.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $72.41 million. Astera Labs’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts predict that Astera Labs, Inc. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new stake in shares of Astera Labs in the 2nd quarter worth $74,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Astera Labs by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock valued at $5,531,000 after acquiring an additional 2,343 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after acquiring an additional 2,980 shares during the period. Legato Capital Management LLC bought a new position in Astera Labs during the 2nd quarter worth about $207,000. Finally, Alpine Global Management LLC purchased a new position in Astera Labs during the 1st quarter valued at about $272,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 target price on the stock in a report on Wednesday, September 4th. Evercore ISI reduced their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Roth Mkm decreased their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs has a consensus rating of “Buy” and an average price target of $71.36.

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.