Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells 34,474 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 34,474 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $3,174,021.18. Following the completion of the sale, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at $22,487,360.94. The trade was a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00.
• On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The shares were sold at an average price of $102.94, for a total value of $17,190,980.00.

Astera Labs Trading Down 1.6 %

Shares of NASDAQ:ALAB traded down $1.47 on Thursday, reaching $88.43. The company had a trading volume of 3,857,298 shares, compared to its average volume of 5,509,518. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm’s 50 day simple moving average is $118.33 and its 200-day simple moving average is $84.52. The firm has a market capitalization of $14.34 billion and a PE ratio of -51.12.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (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 10.76%. As a group, equities research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALAB shares. Craig Hallum raised their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Roth Mkm raised their price target on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley decreased their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $115.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALAB. Tidal Investments LLC boosted its position in shares of Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Astera Labs in the 3rd quarter worth $530,000. Avior Wealth Management LLC acquired a new stake in shares of Astera Labs in the 3rd quarter worth $361,000. Maverick Capital Ltd. boosted 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 purchasing an additional 159,480 shares in the last quarter. Finally, Bank of Hawaii acquired a new stake in shares of Astera Labs in the 3rd quarter worth $1,409,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

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.