Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 37,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 37,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the sale, the director now owns 498,863 shares in the company, valued at approximately $25,102,786.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $3,150,000.00.

Astera Labs Trading Up 0.9 %

Shares of NASDAQ ALAB traded up $0.47 during trading on Tuesday, reaching $51.17. The stock had a trading volume of 1,687,076 shares, compared to its average volume of 2,546,926. The stock has a 50 day simple moving average of $44.10. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $95.21.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. The company’s revenue was up 17.8% on a year-over-year basis. As a group, equities analysts predict that Astera Labs, Inc. will post -0.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALAB shares. Stifel Nicolaus decreased their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. reduced their price objective on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC decreased their target price on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley raised Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 target price for the company in a report on Wednesday, September 4th. Finally, Barclays dropped their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $71.36.

Hedge Funds Weigh In On Astera Labs

Hedge funds have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. raised its position in shares of Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after purchasing an additional 2,980 shares during the period. Sycomore Asset Management acquired a new stake in Astera Labs during the 2nd quarter valued at approximately $2,038,000. Truist Financial Corp acquired a new position in Astera Labs in the second quarter valued at approximately $353,000. The Manufacturers Life Insurance Company acquired a new position in shares of Astera Labs during the 2nd quarter valued at $341,000. Finally, Millennium Management LLC increased its stake in Astera Labs by 136.4% during the 2nd quarter. Millennium Management LLC now owns 278,051 shares of the company’s stock valued at $16,825,000 after purchasing an additional 160,417 shares in the last quarter.

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.