Astera Labs, Inc. (NASDAQ:ALAB) Insider Sells $7,641,700.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the transaction, the insider now directly owns 835,000 shares in the company, valued at $58,007,450. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Sanjay Gajendra also recently made the following trade(s):

• On Tuesday, September 17th, Sanjay Gajendra sold 76,701 shares of Astera Labs stock. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32.

Astera Labs Stock Performance

ALAB opened at $62.47 on Wednesday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21. The company has a 50-day moving average price of $46.67 and a 200 day moving average price of $58.06.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on ALAB. Morgan Stanley boosted their target price on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their target price on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus reduced their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Craig Hallum reduced their price target on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $73.09.

Institutional Trading of Astera Labs

Hedge funds have recently bought and sold shares of the business. Sei Investments Co. acquired a new stake in Astera Labs in the 1st quarter valued at about $952,000. Vanguard Group Inc. purchased a new stake in shares of Astera Labs in the 1st quarter valued at approximately $127,268,000. Forge First Asset Management Inc. purchased a new stake in shares of Astera Labs in the 1st quarter valued at approximately $1,143,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Astera Labs during the 1st quarter worth approximately $44,514,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Astera Labs during the 1st quarter worth approximately $18,666,000.

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.