Astera Labs, Inc. (NASDAQ:ALAB) Director Michael E. Hurlston Sells 2,500 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Astera Labs Stock Down 1.6 %

NASDAQ ALAB opened at $88.43 on Friday. The company has a market capitalization of $14.34 billion and a price-to-earnings ratio of -51.12. The stock’s 50-day simple moving average is $117.65 and its two-hundred day simple moving average is $84.55. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results 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 net margin of 21.05% and a negative return on equity of 10.76%. On average, equities analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Astera Labs

Several large investors have recently bought and sold shares of ALAB. Lecap Asset Management Ltd. bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $1,725,000. International Assets Investment Management LLC purchased a new stake in Astera Labs during the 3rd quarter valued at $34,310,000. Dakota Wealth Management purchased a new stake in shares of Astera Labs in the 3rd quarter worth $2,204,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of Astera Labs in the 3rd quarter worth $594,000. Finally, Highland Capital Management LLC purchased a new stake in Astera Labs in the 3rd quarter worth $1,594,000. 60.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Roth Mkm boosted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley reduced their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus boosted their price target on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and a consensus target price of $115.33.

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.