Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $185,070.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Jack R. Lazar sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total transaction of $185,070.00. Following the transaction, the director now owns 137,000 shares in the company, valued at approximately $8,451,530. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $66.69 on Monday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $95.21. The company’s 50-day moving average price is $45.84 and its two-hundred day moving average price is $58.20.

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

Hedge Funds Weigh In On Astera Labs

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Barclays lowered their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Craig Hallum lowered their target price on shares of Astera Labs from $90.00 to $75.00 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 data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $73.09.

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.