Jitendra Mohan Sells 128,250 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 128,250 shares of the company’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $90.02, for a total value of $11,545,065.00. Following the completion of the transaction, the chief executive officer now owns 541,125 shares in the company, valued at approximately $48,712,072.50. The trade was a 19.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, May 16th, Jitendra Mohan sold 91,337 shares of Astera Labs stock. The shares were sold at an average price of $90.67, for a total value of $8,281,525.79.
• On Wednesday, May 14th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The stock was sold at an average price of $90.90, for a total value of $6,817,500.00.
• On Thursday, May 8th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The stock was sold at an average price of $71.05, for a total value of $5,328,750.00.

Astera Labs Stock Performance

Astera Labs stock opened at $94.30 on Friday. The stock has a market cap of $15.55 billion, a P/E ratio of -54.51, a PEG ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm’s fifty day moving average price is $68.47 and its 200-day moving average price is $92.59.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a research report on Monday, May 12th. Evercore ISI increased their target price on Astera Labs from $87.00 to $104.00 and gave the stock an “outperform” rating in a research report on Wednesday. Susquehanna assumed coverage on Astera Labs in a research report on Friday, May 16th. They set a “neutral” rating and a $80.00 target price on the stock. Craig Hallum increased their target price on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Raymond James assumed coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 target price on the stock. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Astera Labs currently has an average rating of “Buy” and a consensus price target of $100.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its stake in Astera Labs by 1,382.7% in the first quarter. Geneos Wealth Management Inc. now owns 4,033 shares of the company’s stock valued at $241,000 after acquiring an additional 3,761 shares during the last quarter. Focus Partners Wealth increased its stake in Astera Labs by 0.8% in the first quarter. Focus Partners Wealth now owns 432,806 shares of the company’s stock valued at $25,826,000 after acquiring an additional 3,464 shares during the last quarter. Optimize Financial Inc bought a new position in Astera Labs in the first quarter valued at $1,718,000. Empowered Funds LLC increased its stake in Astera Labs by 917.3% in the first quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock valued at $277,000 after acquiring an additional 4,183 shares during the last quarter. Finally, Fred Alger Management LLC increased its stake in Astera Labs by 13.0% in the first quarter. Fred Alger Management LLC now owns 1,560,033 shares of the company’s stock valued at $93,087,000 after acquiring an additional 179,638 shares during the last quarter. Institutional investors own 60.47% of the company’s stock.

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.