Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells 125,800 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, February 18th, Michael Truett Tate sold 34,474 shares of Astera Labs stock. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18.
• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The shares were 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 shares were sold at an average price of $102.94, for a total value of $17,190,980.00.

Astera Labs Stock Performance

Shares of ALAB stock traded down $1.40 on Friday, reaching $74.35. 10,685,394 shares of the company’s stock traded hands, compared to its average volume of 5,595,052. The company has a market capitalization of $12.06 billion and a P/E ratio of -42.98. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The business’s 50 day moving average price is $113.02 and its two-hundred day moving average price is $85.95.

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

Wall Street Analyst Weigh In

Several brokerages have commented on ALAB. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Stifel Nicolaus raised their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Roth Mkm lifted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Astera Labs currently has a consensus rating of “Buy” and an average price target of $115.33.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC raised its holdings 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 in the last quarter. Kestra Investment Management LLC acquired a new stake in Astera Labs during the fourth quarter valued at $28,000. Geneos Wealth Management Inc. purchased a new position in Astera Labs in the fourth quarter valued at about $36,000. Finally, Global Retirement Partners LLC increased its holdings in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after buying an additional 284 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.