Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $837,426.38 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 7,814 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $107.17, for a total value of $837,426.38. Following the transaction, the director now directly owns 121,803 shares of the company’s stock, valued at $13,053,627.51. This trade represents a 6.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Astera Labs Stock Down 5.6 %

Shares of ALAB opened at $99.60 on Friday. The stock has a 50 day moving average of $74.17 and a 200 day moving average of $60.84. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $113.85.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping 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. Astera Labs’s revenue was up 47.1% compared to the same quarter last year. Research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently made changes to their positions in ALAB. Hollencrest Capital Management bought a new stake in Astera Labs during the third quarter valued at $26,000. US Bancorp DE bought a new stake in Astera Labs during the third quarter valued at $46,000. First Horizon Advisors Inc. bought a new stake in Astera Labs during the third quarter valued at $49,000. Allworth Financial LP boosted its stake in Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares during the period. Finally, Amalgamated Bank bought a new stake in Astera Labs during the second quarter valued at $74,000.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of analyst reports. Craig Hallum upped their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus upped their target price on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Finally, Morgan Stanley increased their price target on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has an average rating of “Buy” and a consensus target price of $94.67.

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.