Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $837,426.38 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 7,814 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total value of $837,426.38. Following the sale, the director now owns 121,803 shares in the company, valued at $13,053,627.51. The trade was a 6.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB opened at $99.60 on Friday. The stock’s 50-day moving average is $74.17 and its 200 day moving average is $60.84. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $113.85.

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

Institutional Trading of Astera Labs

Large investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in Astera Labs during the 3rd quarter valued at approximately $26,000. US Bancorp DE bought a new stake in Astera Labs during the 3rd quarter valued at approximately $46,000. First Horizon Advisors Inc. bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $49,000. Allworth Financial LP boosted its position in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares in the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Astera Labs in the 2nd quarter worth approximately $74,000.

Analysts Set New Price Targets

A number of research firms have weighed in on ALAB. Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI decreased their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Stifel Nicolaus lifted their price objective on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs has an average rating of “Buy” and an average target price of $94.67.

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.