Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) CFO Michael Truett Tate sold 125,800 shares of the firm's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 244,242 shares of the company's stock, valued at $20,157,292.26. This represents a 34.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Michael Truett Tate also recently made the following trade(s):
- On Tuesday, February 18th, Michael Truett Tate sold 34,474 shares of Astera Labs stock. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18.
- On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00.
- On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The stock was sold at an average price of $102.94, for a total value of $17,190,980.00.
Astera Labs Stock Up 2.9 %
Shares of NASDAQ:ALAB traded up $1.95 during trading on Tuesday, hitting $69.63. The stock had a trading volume of 6,972,741 shares, compared to its average volume of 3,767,389. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The company has a market capitalization of $11.29 billion and a PE ratio of -40.25. The firm's fifty day moving average is $109.07 and its 200 day moving average is $87.22.
Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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 research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.
Analyst Ratings Changes
Several brokerages have issued reports on ALAB. Morgan Stanley cut their price target 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. Deutsche Bank Aktiengesellschaft raised their target price on Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Roth Mkm raised their target price on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Stifel Nicolaus raised their target price on Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $115.33.
Get Our Latest Stock Report on ALAB
Institutional Trading of Astera Labs
Several institutional investors have recently added to or reduced their stakes in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs during the 4th quarter valued at $25,000. Hollencrest Capital Management purchased a new position in Astera Labs during the third quarter valued at $26,000. Steward Partners Investment Advisory LLC lifted 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 valued at $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Astera Labs during the fourth quarter valued at about $28,000. Finally, Geneos Wealth Management Inc. bought a new stake in Astera Labs during the fourth quarter valued at about $36,000. 60.47% of the stock is currently owned by hedge funds and other 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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