Manuel Alba Sells 37,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 37,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the completion of the sale, the director now owns 498,863 shares in the company, valued at $25,102,786.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Manuel Alba also recently made the following trade(s):

• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $50.00, for a total value of $3,150,000.00.

Astera Labs Stock Up 0.9 %

Shares of NASDAQ:ALAB traded up $0.47 on Tuesday, hitting $51.17. The company’s stock had a trading volume of 1,687,076 shares, compared to its average volume of 2,546,926. The firm’s 50-day moving average price is $44.10. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. Astera Labs’s revenue for the quarter 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 fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank acquired a new position in Astera Labs in the second quarter valued at approximately $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 purchased a new position in Astera Labs in the second quarter worth $207,000. Alpine Global Management LLC purchased a new stake in shares of Astera Labs in the first quarter valued at about $272,000. Finally, Strategic Blueprint LLC acquired a new position in shares of Astera Labs in the second quarter valued at approximately $332,000.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus lowered their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Needham & Company LLC decreased their price target on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 target price on the stock in a report on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average 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.