Philip Mazzara Sells 42,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 42,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.56, for a total value of $4,055,520.00. Following the completion of the sale, the general counsel now directly owns 258,564 shares of the company’s stock, valued at $24,966,939.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Philip Mazzara also recently made the following trade(s):

• On Wednesday, October 9th, Philip Mazzara sold 25,000 shares of Astera Labs stock. The shares were sold at an average price of $60.74, for a total value of $1,518,500.00.
• On Monday, August 26th, Philip Mazzara sold 8,000 shares of Astera Labs stock. The shares were sold at an average price of $43.12, for a total value of $344,960.00.
• On Friday, August 23rd, Philip Mazzara sold 42,090 shares of Astera Labs stock. The shares were sold at an average price of $40.43, for a total value of $1,701,698.70.

Astera Labs Stock Performance

Shares of ALAB opened at $89.30 on Thursday. The stock’s fifty day moving average price is $61.06 and its two-hundred day moving average price is $58.88. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $100.09.

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

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of recent research reports. Roth Mkm raised their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Craig Hallum raised their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Morgan Stanley lifted their price target on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus lifted their price target on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $92.36.

Hedge Funds Weigh In On Astera Labs

Several hedge funds have recently made changes to their positions in ALAB. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the third quarter valued at $26,000. US Bancorp DE purchased a new position in shares of Astera Labs in the third quarter valued at $46,000. First Horizon Advisors Inc. purchased a new position in shares of Astera Labs in the third quarter valued at $49,000. Allworth Financial LP grew its position in shares of Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after purchasing an additional 891 shares in the last quarter. Finally, Amalgamated Bank purchased a new position in shares of Astera Labs in the second quarter valued at $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.