Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells $3,174,021.18 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 34,474 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18. Following the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at approximately $22,487,360.94. This trade represents a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Michael Truett Tate also recently made the following trade(s):

• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00.
• On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The stock was sold at an average price of $102.94, for a total value of $17,190,980.00.

Astera Labs Trading Down 3.1 %

Astera Labs stock opened at $85.72 on Friday. The company has a market capitalization of $13.90 billion and a PE ratio of -49.55. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a 50-day moving average price of $116.72 and a two-hundred day moving average price of $85.13.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ALAB shares. Morgan Stanley reduced their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research note on Tuesday, January 28th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Craig Hallum raised their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $115.33.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its position in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the fourth quarter worth about $25,000. Strategic Blueprint LLC raised its position in shares of Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after acquiring an additional 195 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the fourth quarter worth about $28,000. Finally, GAMMA Investing LLC raised its position in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

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.