Astera Labs, Inc. (NASDAQ:ALAB) Insider Sanjay Gajendra Sells 76,701 Shares

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the sale, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Astera Labs Stock Up 1.5 %

Astera Labs stock opened at $47.13 on Friday. The firm has a 50-day moving average price of $44.35. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. Astera Labs’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts expect that Astera Labs, Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On Astera Labs

Hedge funds have recently made changes to their positions in the business. Amalgamated Bank acquired a new position in Astera Labs in the 2nd quarter valued at about $74,000. Newbridge Financial Services Group Inc. grew its stake in shares of Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after purchasing an additional 2,980 shares during the last quarter. Legato Capital Management LLC acquired a new position in shares of Astera Labs in the second quarter valued at approximately $207,000. Alpine Global Management LLC purchased a new stake in shares of Astera Labs during the first quarter worth approximately $272,000. Finally, Strategic Blueprint LLC acquired a new stake in shares of Astera Labs during the second quarter worth $332,000.

Analysts Set New Price Targets

ALAB has been the topic of a number of research analyst reports. Barclays cut their target price on Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI cut their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley raised Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price objective on the stock in a research report on Wednesday, September 4th. Needham & Company LLC cut their price objective on Astera Labs from $85.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $71.36.

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.