Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $19,091,063.92 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 173,366 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $110.12, for a total value of $19,091,063.92. Following the completion of the transaction, the chief executive officer now directly owns 600,000 shares in the company, valued at approximately $66,072,000. This trade represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Jitendra Mohan also recently made the following trade(s):

• On Thursday, November 21st, Jitendra Mohan sold 171,064 shares of Astera Labs stock. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92.
• On Friday, October 11th, Jitendra Mohan sold 47,667 shares of Astera Labs stock. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42.

Astera Labs Stock Down 5.6 %

Shares of ALAB stock traded down $5.88 during trading on Wednesday, reaching $99.60. The company had a trading volume of 5,209,101 shares, compared to its average volume of 3,190,953. The firm’s 50 day simple moving average is $72.05 and its two-hundred day simple moving average is $60.30. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $113.85.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ALAB. JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Citigroup initiated coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Roth Mkm lifted their price target on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley boosted their target price on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs presently has a consensus rating of “Buy” and a consensus price target of $94.67.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new position in Astera Labs during the 1st quarter worth $127,268,000. Price T Rowe Associates Inc. MD bought a new stake in Astera Labs in the 1st quarter valued at about $44,514,000. Janus Henderson Group PLC bought a new stake in Astera Labs during the 1st quarter worth approximately $20,025,000. Rokos Capital Management LLP purchased a new position in Astera Labs in the first quarter valued at approximately $1,484,000. Finally, Linden Thomas Advisory Services LLC purchased a new position in Astera Labs in the second quarter valued at approximately $3,187,000.

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.