Sanjay Gajendra Sells 76,701 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the transaction, the insider now directly owns 855,000 shares of the company’s stock, valued at $38,748,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Astera Labs Trading Up 1.5 %

Astera Labs stock traded up $0.69 during mid-day trading on Thursday, hitting $47.13. 3,504,680 shares of the company’s stock were exchanged, compared to its average volume of 2,507,136. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $95.21. The company has a 50 day moving average price of $44.51.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. Astera Labs’s revenue was up 17.8% compared to the same quarter last year. Analysts predict that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ALAB shares. Stifel Nicolaus lowered their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 5th. Evercore ISI lowered their target price 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. Deutsche Bank Aktiengesellschaft dropped their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Barclays decreased their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Morgan Stanley raised Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price objective for the company in a report on Wednesday, September 4th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs currently has an average rating of “Buy” and an average price target of $71.36.

Institutional Investors Weigh In On Astera Labs

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. acquired a new stake in Astera Labs in the 1st quarter worth about $127,268,000. Capital World Investors acquired a new stake in shares of Astera Labs in the 1st quarter valued at approximately $44,514,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs during the first quarter worth $44,514,000. Bamco Inc. NY acquired a new stake in shares of Astera Labs during the first quarter valued at about $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Astera Labs during the 1st quarter worth approximately $33,141,000.

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.