Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells $6,203,000.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $62.03, for a total transaction of $6,203,000.00. Following the completion of the transaction, the chief financial officer now owns 1,762,888 shares in the company, valued at approximately $109,351,942.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, August 29th, Michael Truett Tate sold 50,000 shares of Astera Labs stock. The shares were sold at an average price of $47.98, for a total transaction of $2,399,000.00.

Astera Labs Trading Up 0.9 %

NASDAQ:ALAB opened at $66.69 on Monday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $95.21. The stock has a fifty day simple moving average of $45.84 and a 200 day simple moving average of $58.20.

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 for the quarter, compared to analyst estimates of $72.41 million. The business’s revenue was up 17.8% on a year-over-year basis. Sell-side analysts anticipate that Astera Labs, Inc. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

ALAB has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Roth Mkm dropped their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Craig Hallum dropped their price objective 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. Evercore ISI dropped their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays lowered their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $73.09.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. bought a new stake in shares of Astera Labs during the first quarter valued at approximately $127,268,000. Capital World Investors bought a new stake in Astera Labs in the first quarter valued at about $44,514,000. Price T Rowe Associates Inc. MD bought a new stake in Astera Labs in the first quarter valued at about $44,514,000. Bamco Inc. NY bought a new stake in shares of Astera Labs in the first quarter worth about $37,095,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Astera Labs in the first quarter worth about $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.