Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Jack R. Lazar sold 3,000 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the sale, the director now directly owns 137,000 shares in the company, valued at approximately $8,451,530. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Astera Labs Price Performance
Shares of NASDAQ:ALAB traded up $0.58 during trading on Friday, hitting $66.69. The company's stock had a trading volume of 7,626,336 shares, compared to its average volume of 2,695,375. The company has a 50-day moving average of $45.36 and a 200-day moving average of $58.66. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $95.21.
Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analysts' expectations of $72.41 million. The company's revenue was up 17.8% on a year-over-year basis. Equities research analysts expect that Astera Labs, Inc. will post -0.54 EPS for the current year.
Institutional Trading of Astera Labs
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Amalgamated Bank purchased a new position in shares of Astera Labs during the 2nd quarter valued at about $74,000. Newbridge Financial Services Group Inc. lifted its holdings in Astera Labs by 11,920.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company's stock valued at $182,000 after purchasing an additional 2,980 shares in the last quarter. Legato Capital Management LLC bought a new position in shares of Astera Labs in the second quarter worth approximately $207,000. Alpine Global Management LLC purchased a new stake in shares of Astera Labs in the first quarter worth $272,000. Finally, Strategic Blueprint LLC bought a new stake in shares of Astera Labs during the 2nd quarter valued at $332,000.
Analyst Ratings Changes
A number of analysts have recently commented on ALAB shares. Stifel Nicolaus dropped their price target on Astera Labs from $87.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. Craig Hallum decreased their target price on shares of Astera Labs from $90.00 to $75.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Barclays cut their price target on shares of Astera Labs from $85.00 to $70.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Roth Mkm decreased their price objective on shares of Astera Labs from $85.00 to $60.00 and set a "buy" rating for the company in a report on Wednesday, August 7th. Finally, Evercore ISI reduced their target price on Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $73.09.
Check Out Our Latest Stock Report on ALAB
About Astera Labs
(
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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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