Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 171,064 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 171,064 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the transaction, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 Price Performance

Shares of ALAB traded up $5.03 during trading hours on Monday, reaching $107.31. The company’s stock had a trading volume of 7,755,092 shares, compared to its average volume of 3,172,556. The company has a 50 day moving average of $69.60 and a two-hundred day moving average of $59.79. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $113.85.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ALAB. Strategic Blueprint LLC boosted its holdings in Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after acquiring an additional 195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after purchasing an additional 284 shares during the last quarter. Hollencrest Capital Management bought a new stake in Astera Labs during the 3rd quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its holdings in Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after buying an additional 500 shares during the last quarter. Finally, US Bancorp DE bought a new position in Astera Labs in the 3rd quarter worth approximately $46,000.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALAB. Stifel Nicolaus increased their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. 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. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Barclays lifted their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI cut their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus 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.