Astera Labs, Inc. (NASDAQ:ALAB) Insider Sanjay Gajendra Sells 740,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 740,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the transaction, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, October 11th, Sanjay Gajendra sold 110,000 shares of Astera Labs stock. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00.
• On Tuesday, September 17th, Sanjay Gajendra sold 76,701 shares of Astera Labs stock. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32.

Astera Labs Stock Down 1.6 %

Shares of NASDAQ:ALAB opened at $90.75 on Wednesday. The business’s 50 day moving average is $60.03 and its 200 day moving average is $58.84. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $100.09.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The company’s revenue was up 47.1% on a year-over-year basis. Analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALAB shares. Stifel Nicolaus boosted their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley boosted their target price on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI reduced their price objective 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. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $92.36.

Institutional Investors Weigh In On Astera Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $26,000. US Bancorp DE bought a new stake in Astera Labs in the third quarter worth about $46,000. First Horizon Advisors Inc. purchased a new position in Astera Labs in the third quarter valued at about $49,000. Allworth Financial LP grew its position in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares during the period. Finally, Amalgamated Bank purchased a new stake in shares of Astera Labs during the 2nd quarter worth approximately $74,000.

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.