Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba Sells 63,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $102.94, for a total value of $6,485,220.00. Following the completion of the sale, the director now owns 471,863 shares in the company, valued at $48,573,577.22. This trade represents a 11.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Manuel Alba also recently made the following trade(s):

• On Friday, November 8th, Manuel Alba sold 12,000 shares of Astera Labs stock. The shares were sold at an average price of $94.74, for a total value of $1,136,880.00.
• On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00.
• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $50.00, for a total value of $3,150,000.00.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $115.27 on Thursday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $121.20. The business has a 50 day moving average price of $78.84 and a 200-day moving average price of $61.78.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Stifel Nicolaus boosted their price objective on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Barclays boosted their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, Craig Hallum boosted their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $94.67.

Institutional Trading of Astera Labs

Several institutional investors and hedge funds have recently modified their holdings of the stock. Strategic Blueprint LLC raised its stake in shares of Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after purchasing an additional 195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after purchasing an additional 284 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of Astera Labs in the third quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its holdings in shares of Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after acquiring an additional 500 shares in the last quarter. Finally, US Bancorp DE bought a new position in shares of Astera Labs in the third quarter valued at approximately $46,000.

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.