Philip Mazzara Sells 25,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total transaction of $1,518,500.00. Following the completion of the sale, the general counsel now owns 300,564 shares in the company, valued at $18,256,257.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Philip Mazzara also recently made the following trade(s):

• On Monday, August 26th, Philip Mazzara sold 8,000 shares of Astera Labs stock. The shares were sold at an average price of $43.12, for a total transaction of $344,960.00.
• On Friday, August 23rd, Philip Mazzara sold 42,090 shares of Astera Labs stock. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70.

Astera Labs Trading Up 0.9 %

Shares of ALAB opened at $66.69 on Friday. The company’s fifty day moving average is $45.84 and its two-hundred day moving average is $58.36. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. Astera Labs’s revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts forecast that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Astera Labs

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank purchased a new stake in Astera Labs during the second quarter worth approximately $74,000. Massachusetts Financial Services Co. MA boosted its position in Astera Labs by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock worth $5,531,000 after purchasing an additional 2,343 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after purchasing an additional 2,980 shares in the last quarter. Legato Capital Management LLC purchased a new position in Astera Labs in the second quarter valued at about $207,000. Finally, Alpine Global Management LLC acquired a new position in shares of Astera Labs during the first quarter worth about $272,000.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Craig Hallum cut their target price on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Barclays reduced their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Evercore ISI lowered their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $73.09.

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.