Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate Sells 167,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 167,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $102.94, for a total value of $17,190,980.00. Following the completion of the transaction, the chief financial officer now directly owns 1,595,888 shares of the company’s stock, valued at approximately $164,280,710.72. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, November 18th, Michael Truett Tate sold 7,398 shares of Astera Labs stock. The shares were sold at an average price of $90.81, for a total value of $671,812.38.
• 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.

Astera Labs Stock Down 1.1 %

Astera Labs stock opened at $115.27 on Thursday. The business has a 50 day moving average of $78.84 and a 200-day moving average of $61.78. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $121.20.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating 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 business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue was up 47.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on ALAB shares. Craig Hallum boosted 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. Roth Mkm boosted their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays boosted their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Citigroup started coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 target price for the company. Finally, Stifel Nicolaus boosted their target price on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average target price of $94.67.

Institutional Trading of Astera Labs

Several institutional investors have recently added to or reduced their stakes in ALAB. Fred Alger Management LLC boosted its holdings in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Astera Labs in the third quarter valued at approximately $52,049,000. The Manufacturers Life Insurance Company boosted its holdings in Astera Labs by 15,477.8% in 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 during the last quarter. Spyglass Capital Management LLC bought a new position in shares of Astera Labs during the 3rd quarter worth approximately $38,565,000. Finally, State Street Corp boosted its holdings in shares of Astera Labs by 173.1% during the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after buying an additional 442,698 shares in the last quarter.

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.