Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara Sells 50,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares in the company, valued at $16,723,139.14. The trade was a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Philip Mazzara also recently made the following trade(s):

• On Tuesday, February 18th, Philip Mazzara sold 7,536 shares of Astera Labs stock. The shares were sold at an average price of $92.07, for a total value of $693,839.52.

Astera Labs Price Performance

ALAB opened at $88.43 on Friday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The company has a market capitalization of $14.34 billion and a P/E ratio of -51.12. The firm’s fifty day moving average price is $117.65 and its two-hundred day moving average price is $84.55.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.76%. On average, equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Barclays boosted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $115.33.

Institutional Trading of Astera Labs

A number of large investors have recently bought and sold shares of ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the fourth quarter valued at $25,000. Steward Partners Investment Advisory LLC increased its position in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new position in Astera Labs during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. acquired a new position in Astera Labs in the fourth quarter valued at about $36,000. Finally, Global Retirement Partners LLC boosted its position in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after buying an additional 284 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

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.