Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells $825,731.69 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 9,107 shares of Astera Labs stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $90.67, for a total transaction of $825,731.69. Following the sale, the chief financial officer now directly owns 235,135 shares in the company, valued at approximately $21,319,690.45. The trade was a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Michael Truett Tate also recently made the following trade(s):

• On Wednesday, February 26th, Michael Truett Tate sold 125,800 shares of Astera Labs stock. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00.

Astera Labs Stock Down 2.4%

Astera Labs stock opened at $92.17 on Thursday. The firm has a market cap of $15.20 billion, a PE ratio of -53.28, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company’s 50 day moving average is $68.03 and its two-hundred day moving average is $92.42.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm’s quarterly revenue was up 144.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. On average, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds have recently added to or reduced their stakes in ALAB. Vanguard Group Inc. lifted its holdings in Astera Labs by 354.9% during the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after buying an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Astera Labs by 114.2% in the 1st quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock valued at $501,289,000 after purchasing an additional 4,478,741 shares in the last quarter. Atreides Management LP raised its holdings in shares of Astera Labs by 153.3% in the 1st quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock valued at $277,601,000 after purchasing an additional 2,815,614 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Astera Labs in the 4th quarter valued at $229,991,000. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after purchasing an additional 1,384,498 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on ALAB. Evercore ISI lifted their price target on shares of Astera Labs from $87.00 to $104.00 and gave the company an “outperform” rating in a research report on Wednesday. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday, January 28th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Craig Hallum lifted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Stifel Nicolaus dropped their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $100.00.

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.