Jitendra Mohan Sells 47,667 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42. Following the transaction, the chief executive officer now owns 728,420 shares of the company’s stock, valued at $51,178,789.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Astera Labs Stock Up 5.0 %

NASDAQ:ALAB opened at $65.59 on Thursday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21. The business’s 50-day moving average price is $47.25 and its two-hundred day moving average price is $58.11.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. Astera Labs’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, analysts expect that Astera Labs, Inc. will post -0.54 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Evercore ISI cut their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. cut their price target on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley raised their target price on Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Roth Mkm cut their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $73.09.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently bought and sold shares of ALAB. Amalgamated Bank purchased a new position in Astera Labs in the 2nd quarter worth approximately $74,000. Newbridge Financial Services Group Inc. grew its position in shares of Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after buying an additional 2,980 shares during the last quarter. Legato Capital Management LLC bought a new stake in shares of Astera Labs in the 2nd quarter worth approximately $207,000. Alpine Global Management LLC bought a new stake in shares of Astera Labs in the 1st quarter worth approximately $272,000. Finally, Strategic Blueprint LLC bought a new stake in shares of Astera Labs in the 2nd quarter worth approximately $332,000.

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.