Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate Sells 16,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Michael Truett Tate also recently made the following trade(s):

• On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The stock was sold at an average price of $102.94, for a total value of $17,190,980.00.
• On Monday, November 18th, Michael Truett Tate sold 7,398 shares of Astera Labs stock. The stock was sold at an average price of $90.81, for a total value of $671,812.38.
• On Wednesday, October 9th, Michael Truett Tate sold 100,000 shares of Astera Labs stock. The shares were sold at an average price of $62.03, for a total value of $6,203,000.00.

Astera Labs Stock Performance

ALAB stock opened at $120.40 on Monday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $121.20. The business has a 50 day moving average price of $81.38 and a two-hundred day moving average price of $62.33.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate 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. Equities research analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Trading of Astera Labs

Hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after acquiring an additional 20,388 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Astera Labs in the 3rd quarter valued at $203,000. Geode Capital Management LLC grew its position in Astera Labs by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 444,887 shares of the company’s stock worth $23,312,000 after acquiring an additional 3,628 shares during the last quarter. M&T Bank Corp bought a new stake in Astera Labs during the 3rd quarter worth $322,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Astera Labs during the 3rd quarter worth $3,425,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Barclays upped their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Craig Hallum increased their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus increased their target price on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Roth Mkm raised their price target on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Twelve 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 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.