Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 11,282 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 11,282 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $102.46, for a total transaction of $1,155,953.72. Following the sale, the chief executive officer directly owned 509,174 shares of the company’s stock, valued at $52,169,968.04. This represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, July 9th, Jitendra Mohan sold 6,982 shares of Astera Labs stock. The shares were sold at an average price of $100.01, for a total transaction of $698,269.82.
• On Friday, June 20th, Jitendra Mohan sold 52,743 shares of Astera Labs stock. The stock was sold at an average price of $100.86, for a total transaction of $5,319,658.98.
• On Tuesday, June 17th, Jitendra Mohan sold 106,510 shares of Astera Labs stock. The shares were sold at an average price of $94.54, for a total transaction of $10,069,455.40.
• On Thursday, May 29th, Jitendra Mohan sold 14,200 shares of Astera Labs stock. The shares were sold at an average price of $100.00, for a total value of $1,420,000.00.
• On Monday, May 19th, Jitendra Mohan sold 128,250 shares of Astera Labs stock. The stock was sold at an average price of $90.02, for a total value of $11,545,065.00.
• 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 transaction of $6,817,500.00.
• On Thursday, May 8th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00.

Astera Labs Price Performance

Astera Labs stock opened at $95.90 on Monday. The firm has a market cap of $15.82 billion, a P/E ratio of 435.93, a P/E/G ratio of 4.50 and a beta of 1.18. The stock’s 50 day moving average is $90.47 and its 200 day moving average is $87.75. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the firm posted $0.10 EPS. The company’s quarterly revenue was up 144.1% on a year-over-year basis. Equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALAB has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Astera Labs from a “buy” rating to a “hold” rating in a research report on Saturday. Citigroup cut their price objective on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus reduced their price objective on Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC dropped their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Finally, Barclays lifted their price target on Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, May 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.00.

Institutional Trading of Astera Labs

A number of institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Astera Labs by 12.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 132,472 shares of the company’s stock worth $17,546,000 after purchasing an additional 15,008 shares during the period. Victory Capital Management Inc. increased its holdings in Astera Labs by 13.6% in the fourth quarter. Victory Capital Management Inc. now owns 15,216 shares of the company’s stock worth $2,015,000 after purchasing an additional 1,826 shares in the last quarter. Atria Investments Inc bought a new stake in Astera Labs in the fourth quarter worth approximately $303,000. Finally, Proficio Capital Partners LLC lifted its stake in Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock valued at $2,864,000 after buying an additional 390 shares during the period. 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.