Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara Sells 7,536 Shares

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares of the company’s stock, valued at $22,208,112.63. This represents a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Philip Mazzara also recently made the following trade(s):

• On Thursday, February 20th, Philip Mazzara sold 50,000 shares of Astera Labs stock. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00.

Astera Labs Trading Down 1.6 %

Shares of NASDAQ ALAB opened at $88.43 on Friday. The firm has a market cap of $14.34 billion and a PE ratio of -51.12. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a fifty day moving average price of $117.65 and a 200 day moving average price of $84.55.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. Equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Astera Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALAB. Vanguard Group Inc. lifted its position in Astera Labs by 354.9% during the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after buying an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. lifted its position in Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after buying an additional 3,760,765 shares in the last quarter. Fred Alger Management LLC lifted its position in Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares in the last quarter. Jennison Associates LLC bought a new stake in Astera Labs during the 4th quarter worth about $229,991,000. Finally, Lord Abbett & CO. LLC lifted its position in Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock worth $240,873,000 after buying an additional 1,384,498 shares in the last quarter. 60.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALAB shares. Citigroup started coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Barclays boosted their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Craig Hallum boosted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average price target of $115.33.

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.