Manuel Alba Sells 12,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 12,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $94.74, for a total value of $1,136,880.00. Following the completion of the transaction, the director now owns 483,863 shares in the company, valued at $45,841,180.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00.
• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00.

Astera Labs Trading Down 1.6 %

Shares of NASDAQ:ALAB opened at $89.30 on Thursday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $100.09. The firm’s 50-day moving average is $61.06 and its 200 day moving average is $58.88.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share 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 for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs’s revenue was up 47.1% on a year-over-year basis. Sell-side analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALAB. Craig Hallum upped their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI cut their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus raised their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report 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 report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs has an average rating of “Buy” and an average target price of $92.36.

Institutional Trading of Astera Labs

A number of large investors have recently made changes to their positions in ALAB. Vanguard Group Inc. bought a new stake in Astera Labs during the 1st quarter valued at about $127,268,000. Westfield Capital Management Co. LP purchased a new position in shares of Astera Labs during the third quarter worth approximately $52,049,000. The Manufacturers Life Insurance Company raised its stake in shares of Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after acquiring an additional 873,412 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in shares of Astera Labs in the first quarter valued at approximately $44,514,000. Finally, Capital World Investors bought a new position in Astera Labs in the first quarter worth approximately $44,514,000.

About Astera Labs

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.