Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate Sells 7,398 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 7,398 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $671,812.38. Following the sale, the chief financial officer now owns 286,424 shares in the company, valued at $26,010,163.44. This trade represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Truett Tate also recently made the following trade(s):

• On Wednesday, October 9th, Michael Truett Tate sold 100,000 shares of Astera Labs stock. The shares were sold at an average price of $62.03, for a total value of $6,203,000.00.
• On Thursday, August 29th, Michael Truett Tate sold 50,000 shares of Astera Labs stock. The shares were sold at an average price of $47.98, for a total value of $2,399,000.00.

Astera Labs Price Performance

Shares of ALAB stock traded up $2.24 during trading hours on Wednesday, reaching $97.42. The company had a trading volume of 5,780,433 shares, compared to its average volume of 3,100,462. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $100.09. The stock’s fifty day simple moving average is $66.06 and its 200 day simple moving average is $59.22.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share 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 during the quarter, compared to analyst estimates of $97.50 million. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, equities analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Craig Hallum boosted their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley upped their price target on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs has a consensus rating of “Buy” and an average target price of $94.67.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds have recently bought and sold shares of the business. FMR LLC grew its position in shares of Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares in the last quarter. Fred Alger Management LLC grew its position in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. Vanguard Group Inc. acquired a new position in shares of Astera Labs in the 1st quarter worth approximately $127,268,000. Maverick Capital Ltd. grew its position in shares of Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Astera Labs in the 3rd quarter worth approximately $52,049,000.

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.