Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba Sells 11,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Manuel Alba sold 11,000 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, December 2nd, Manuel Alba sold 63,000 shares of Astera Labs stock. The stock was sold at an average price of $102.94, for a total value of $6,485,220.00.
• On Friday, November 8th, Manuel Alba sold 12,000 shares of Astera Labs stock. The shares were sold at an average price of $94.74, for a total value of $1,136,880.00.
• On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The stock was sold at an average price of $50.32, for a total transaction of $1,861,840.00.
• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $50.00, for a total value of $3,150,000.00.

Astera Labs Stock Up 5.0 %

Astera Labs stock traded up $5.72 during mid-day trading on Friday, reaching $120.40. 4,027,429 shares of the company were exchanged, compared to its average volume of 3,223,023. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $121.20. The business has a fifty day moving average of $80.04 and a 200 day moving average of $62.15.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The business's revenue for the quarter was up 47.1% on a year-over-year basis. On average, analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Astera Labs during the third quarter worth about $530,000. Avior Wealth Management LLC purchased a new stake in Astera Labs during the 3rd quarter worth approximately $361,000. Meeder Asset Management Inc. acquired a new position in Astera Labs during the 3rd quarter valued at approximately $1,141,000. Bank of Hawaii acquired a new position in Astera Labs during the 3rd quarter valued at approximately $1,409,000. Finally, Maverick Capital Ltd. raised its holdings in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock worth $60,575,000 after buying an additional 159,480 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Astera Labs from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Needham & Company LLC reiterated a "buy" rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Citigroup began coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a "buy" rating and a $120.00 price target on the stock. Craig Hallum boosted their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley upped their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs currently has an average rating of "Buy" and an average target price of $94.67.

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.

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