Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara Sells 50,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, February 18th, Philip Mazzara sold 7,536 shares of Astera Labs stock. The shares were sold at an average price of $92.07, for a total value of $693,839.52.

Astera Labs Stock Down 1.6 %

Shares of ALAB stock traded down $1.47 during mid-day trading on Thursday, reaching $88.43. The stock had a trading volume of 3,857,298 shares, compared to its average volume of 5,509,518. The firm’s 50 day simple moving average is $118.33 and its 200 day simple moving average is $84.52. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The firm has a market cap of $14.34 billion and a PE ratio of -51.12.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. Sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Craig Hallum raised their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays raised their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Roth Mkm raised their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley lowered their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $115.33.

Hedge Funds Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the 4th quarter worth approximately $25,000. Hollencrest Capital Management bought a new position in shares of Astera Labs during the 3rd quarter worth approximately $26,000. Steward Partners Investment Advisory LLC lifted its position in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the 4th quarter worth approximately $28,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the 4th quarter worth approximately $36,000. Institutional investors own 60.47% of the company’s stock.

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.