Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $4,485,000.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares of the company's stock, valued at $11,626,644.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Astera Labs Stock Up 5.1 %

ALAB stock traded up $4.81 during midday trading on Friday, reaching $99.30. 5,016,912 shares of the company's stock traded hands, compared to its average volume of 5,387,496. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $99.84. The stock's 50-day moving average is $59.05 and its 200 day moving average is $58.87.

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 return on equity of 15.57% and a negative net margin of 30.69%. The firm had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs's revenue for the quarter was up 47.1% compared to the same quarter last year. On average, research analysts expect that Astera Labs, Inc. will post -0.54 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on ALAB. JPMorgan Chase & Co. increased their target price on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and issued a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Morgan Stanley boosted their target price on Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday. Evercore ISI dropped their price target on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating on the stock in a report on Wednesday, August 7th. Finally, Roth Mkm boosted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $92.36.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALAB. Vanguard Group Inc. purchased a new position in Astera Labs during the first quarter valued at approximately $127,268,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs during the first quarter valued at approximately $44,514,000. Capital World Investors purchased a new position in shares of Astera Labs in the first quarter worth $44,514,000. Bamco Inc. NY bought a new position in shares of Astera Labs during the first quarter worth $37,095,000. Finally, Lord Abbett & CO. LLC bought a new position in shares of Astera Labs during the first quarter worth $33,141,000.

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.