Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 63,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Astera Labs Trading Down 4.9 %

Shares of NASDAQ ALAB opened at $52.94 on Friday. The stock has a market capitalization of $8.58 billion and a price-to-earnings ratio of -30.60. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The firm’s 50-day moving average price is $78.49 and its 200-day moving average price is $90.74.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ALAB shares. Raymond James started coverage on Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective on the stock. Barclays upped their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Morgan Stanley lowered their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Finally, Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $112.77.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs in the 4th quarter worth about $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Astera Labs by 99.0% in the fourth 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 stake in shares of Astera Labs during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC grew its position in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after acquiring an additional 284 shares during the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

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.