Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $17,710,255.92 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares in the company, valued at $65,109,499.35. The trade was a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Jitendra Mohan also recently made the following trade(s):

• On Monday, November 25th, Jitendra Mohan sold 173,366 shares of Astera Labs stock. The shares were sold at an average price of $110.12, for a total value of $19,091,063.92.
• On Friday, October 11th, Jitendra Mohan sold 47,667 shares of Astera Labs stock. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42.

Astera Labs Stock Down 5.6 %

Astera Labs stock opened at $99.60 on Thursday. The stock’s 50 day moving average is $73.12 and its 200-day moving average is $60.57. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $113.85.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business’s revenue was up 47.1% compared to the same quarter last year. Research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ALAB shares. Evercore ISI dropped their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Barclays increased their price target on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Roth Mkm boosted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum raised their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average price target of $94.67.

Institutional Trading of Astera Labs

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Avior Wealth Management LLC bought a new position in shares of Astera Labs during the third quarter worth approximately $361,000. Sei Investments Co. bought a new position in Astera Labs during the 1st quarter worth $952,000. Meeder Asset Management Inc. bought a new position in Astera Labs during the 3rd quarter worth $1,141,000. Bank of Hawaii acquired a new position in Astera Labs in the 3rd quarter valued at $1,409,000. Finally, Vanguard Group Inc. bought a new stake in shares of Astera Labs during the 1st quarter valued at $127,268,000.

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.