Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) 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 – Get Free Report) 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
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.
Read Our Latest Report on ALAB
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.
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