Manuel Alba Sells 63,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.94, for a total value of $6,485,220.00. Following the transaction, the director now owns 471,863 shares in the company, valued at approximately $48,573,577.22. This represents a 11.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 stock was sold at an average price of $50.00, for a total value of $3,150,000.00.

Astera Labs Trading Down 1.1 %

Shares of ALAB traded down $1.24 during mid-day trading on Wednesday, reaching $115.27. The company had a trading volume of 4,670,312 shares, compared to its average volume of 3,220,764. The company's 50 day simple moving average is $77.58 and its 200 day simple moving average is $61.40. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $121.20.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALAB shares. Stifel Nicolaus increased their price target on Astera Labs from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on shares of Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Roth Mkm boosted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Craig Hallum increased their target price on Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC restated a "buy" rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $94.67.

Institutional Trading of Astera Labs

Large investors have recently bought and sold shares of the business. Hollencrest Capital Management acquired a new position in shares of Astera Labs in the 3rd quarter valued at about $26,000. US Bancorp DE acquired a new position in Astera Labs in the third quarter valued at approximately $46,000. First Horizon Advisors Inc. bought a new position in shares of Astera Labs during the 3rd quarter worth approximately $49,000. Allworth Financial LP grew its position in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after buying an additional 891 shares during the period. Finally, Amalgamated Bank acquired a new position in shares of Astera Labs during the 2nd quarter valued at $74,000.

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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