Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report)'s share price traded down 5.2% during mid-day trading on Monday following insider selling activity. The stock traded as low as $68.50 and last traded at $70.50. 1,639,659 shares traded hands during trading, a decline of 70% from the average session volume of 5,480,739 shares. The stock had previously closed at $74.35.
Specifically, CFO Michael Truett Tate sold 125,800 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Barclays increased their target price on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Citigroup started coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a "buy" rating and a $120.00 price objective on the stock. Finally, Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Astera Labs currently has a consensus rating of "Buy" and a consensus target price of $115.33.
Read Our Latest Stock Analysis on Astera Labs
Astera Labs Price Performance
The stock has a fifty day moving average of $107.61 and a 200 day moving average of $87.09. The firm has a market capitalization of $10.30 billion and a P/E ratio of -36.70.
Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Equities analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.
Hedge Funds Weigh In On Astera Labs
Several institutional investors and hedge funds have recently bought and sold shares of ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the 4th quarter worth $25,000. Steward Partners Investment Advisory LLC boosted its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the fourth quarter worth about $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after buying an additional 284 shares in the last quarter. 60.47% of the stock is owned by institutional investors.
About Astera Labs
(
Get Free Report)
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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