Astera Labs (NASDAQ:ALAB) Director Manuel Alba Sells 150,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $166.18, for a total transaction of $24,927,000.00. Following the completion of the sale, the director directly owned 1,574,498 shares of the company’s stock, valued at approximately $261,650,077.64. This represents a 8.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Manuel Alba also recently made the following trade(s):

• On Monday, December 1st, Manuel Alba sold 33,000 shares of Astera Labs stock. The shares were sold at an average price of $166.18, for a total transaction of $5,483,940.00.

Astera Labs Price Performance

NASDAQ:ALAB traded up $9.56 during trading hours on Wednesday, reaching $152.50. 7,756,719 shares of the stock were exchanged, compared to its average volume of 6,575,237. The stock has a market cap of $25.76 billion, a PE ratio of 172.22, a PEG ratio of 2.66 and a beta of 1.51. The firm has a 50 day moving average of $172.77 and a 200 day moving average of $150.19. Astera Labs, Inc. has a twelve month low of $47.13 and a twelve month high of $262.90.

Hedge Funds Weigh In On Astera Labs

Several large investors have recently made changes to their positions in ALAB. Fred Alger Management LLC lifted its position in Astera Labs by 13.0% during the 1st quarter. Fred Alger Management LLC now owns 1,560,033 shares of the company’s stock worth $93,087,000 after acquiring an additional 179,638 shares during the period. Hoey Investments Inc. lifted its stake in Astera Labs by 22.4% in the 2nd quarter. Hoey Investments Inc. now owns 6,121 shares of the company’s stock valued at $553,000 after buying an additional 1,121 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Astera Labs by 21.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,781 shares of the company’s stock worth $1,336,000 after acquiring an additional 2,624 shares during the last quarter. Wealth Effects LLC acquired a new position in Astera Labs during the second quarter worth approximately $242,000. Finally, Maryland State Retirement & Pension System lifted its stake in shares of Astera Labs by 37.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 6,960 shares of the company’s stock valued at $629,000 after purchasing an additional 1,906 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Susquehanna raised their target price on shares of Astera Labs from $80.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Astera Labs from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Evercore ISI increased their price target on shares of Astera Labs from $104.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, August 6th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. Finally, JPMorgan Chase & Co. upped their price target on Astera Labs from $180.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.06.

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.