Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 63,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the transaction, the director now owns 444,863 shares of the company’s stock, valued at $28,190,968.31. This represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Astera Labs Trading Down 4.9 %

Shares of NASDAQ ALAB opened at $52.94 on Monday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The business has a 50-day moving average price of $78.49 and a two-hundred day moving average price of $91.05. The firm has a market capitalization of $8.58 billion and a PE ratio of -30.60.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Trading of Astera Labs

Hedge funds and other institutional investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs in the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC lifted its position in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Astera Labs during the 4th quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs during the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC raised its stake in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after acquiring an additional 284 shares in the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALAB has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Northland Securities raised 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 research note on Tuesday, January 28th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Raymond James began coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and an average price target of $112.77.

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.