Rep. Robert Bresnahan, Jr. Unloads Astera Labs, Inc. (NASDAQ:ALAB) Shares

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Astera Labs, Inc. (NASDAQ:ALAB). In a filing disclosed on March 10th, the Representative disclosed that they had sold between $1,001 and $15,000 in Astera Labs stock on February 18th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 2/21/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/20/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 2/20/2025.
• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 2/20/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Reddit (NYSE:RDDT) on 2/14/2025.
• Sold $1,001 – $15,000 in shares of Oracle (NYSE:ORCL) on 2/14/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 2/13/2025.
• Sold $1,001 – $15,000 in shares of Arista Networks (NYSE:ANET) on 2/13/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 2/12/2025.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $66.05 on Wednesday. The stock has a 50-day simple moving average of $101.65 and a 200 day simple moving average of $88.10. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a market capitalization of $10.71 billion and a price-to-earnings ratio of -38.18.

Astera Labs (NASDAQ:ALAB) last posted 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 research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the sale, the director now directly owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock valued at $50,242,702 over the last three months.

Institutional Investors Weigh In On Astera Labs

Several institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the fourth quarter valued at approximately $25,000. Hollencrest Capital Management bought a new position in shares of Astera Labs during the 3rd quarter valued at $26,000. Steward Partners Investment Advisory LLC lifted its stake in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs in the 4th quarter valued at $28,000. Finally, Geneos Wealth Management Inc. bought a new stake in Astera Labs in the fourth quarter worth $36,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Craig Hallum increased their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Finally, Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $115.33.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.