Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 350,680 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Jitendra Mohan also recently made the following trade(s):

• On Monday, November 25th, Jitendra Mohan sold 173,366 shares of Astera Labs stock. The stock was sold at an average price of $110.12, for a total value of $19,091,063.92.

Astera Labs Stock Down 3.1 %

Shares of ALAB opened at $85.72 on Friday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock has a fifty day simple moving average of $116.72 and a two-hundred day simple moving average of $84.84. The company has a market capitalization of $13.90 billion and a PE ratio of -49.55.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astera Labs

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Northland Securities upgraded 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 research report on Tuesday, January 28th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Astera Labs currently has an average rating of “Buy” and a consensus target price of $115.33.

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.