Manuel Alba Sells 12,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 12,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $94.74, for a total transaction of $1,136,880.00. Following the sale, the director now owns 483,863 shares of the company’s stock, valued at approximately $45,841,180.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Manuel Alba also recently made the following trade(s):

• On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The stock was sold at an average price of $50.32, for a total transaction of $1,861,840.00.
• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The stock was sold at an average price of $50.00, for a total value of $3,150,000.00.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $89.30 on Thursday. The business has a 50-day simple moving average of $61.06 and a two-hundred day simple moving average of $58.88. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $100.09.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Research analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALAB. Sei Investments Co. purchased a new position in shares of Astera Labs during the 1st quarter worth $952,000. Vanguard Group Inc. bought a new stake in Astera Labs during the first quarter valued at about $127,268,000. Forge First Asset Management Inc. bought a new position in shares of Astera Labs in the first quarter worth about $1,143,000. Price T Rowe Associates Inc. MD bought a new position in shares of Astera Labs during the 1st quarter valued at approximately $44,514,000. Finally, Rakuten Securities Inc. purchased a new stake in Astera Labs in the 3rd quarter worth approximately $291,000.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ALAB shares. Stifel Nicolaus upped their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Craig Hallum raised their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley raised their price target on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $92.36.

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.