Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 30,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 30,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $105.90, for a total value of $3,177,000.00. Following the transaction, the director now directly owns 3,765 shares of the company’s stock, valued at $398,713.50. The trade was a 88.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Astera Labs Trading Down 5.6 %

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

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The business 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%. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. On average, research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the 3rd quarter valued at $26,000. US Bancorp DE acquired a new stake in Astera Labs in the 3rd quarter valued at $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 lifted its stake in shares of Astera Labs by 445.5% during the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares in the last quarter. Finally, Amalgamated Bank purchased a new stake in shares of Astera Labs in the second quarter worth about $74,000.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum lifted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $94.67.

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.