Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba Sells 63,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the transaction, the director now directly owns 506,863 shares of the company’s stock, valued at approximately $25,343,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Manuel Alba also recently made the following trade(s):

• On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The stock was sold at an average price of $50.32, for a total transaction of $1,861,840.00.

Astera Labs Trading Up 0.9 %

Shares of ALAB stock traded up $0.47 during trading hours on Tuesday, hitting $51.17. The stock had a trading volume of 1,687,076 shares, compared to its average volume of 2,546,926. The stock has a 50 day moving average price of $44.10. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21.

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

Wall Street Analyst Weigh In

ALAB has been the topic of a number of research analyst reports. Stifel Nicolaus cut their target price on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price objective on the stock in a report on Wednesday, September 4th. Needham & Company LLC lowered their target price on Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Roth Mkm 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. Finally, Barclays reduced their price target on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $71.36.

Hedge Funds Weigh In On Astera Labs

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

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.