Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Sells $693,839.52 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the sale, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. This trade represents a 3.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, February 20th, Philip Mazzara sold 50,000 shares of Astera Labs stock. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00.

Astera Labs Trading Down 3.1 %

Shares of ALAB stock opened at $85.72 on Friday. The company’s fifty day simple moving average is $116.72 and its 200-day simple moving average is $85.13. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The company has a market cap of $13.90 billion and a PE ratio of -49.55.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 EPS 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 10.40%. Equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Astera Labs

A number of hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its stake in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after acquiring an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs in the 4th quarter valued at $25,000. Strategic Blueprint LLC increased its stake in Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after buying an additional 195 shares during the period. Kestra Investment Management LLC purchased a new stake in Astera Labs during the 4th quarter worth $28,000. Finally, GAMMA Investing LLC increased its stake in Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ALAB shares. Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. Roth Mkm raised their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays raised their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $115.33.

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.