Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba Sells 63,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the completion of the transaction, the director now owns 506,863 shares of the company’s stock, valued at $25,343,150. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00.

Astera Labs Stock Performance

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

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The firm’s revenue was up 17.8% on a year-over-year basis. As a group, analysts predict that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in shares of Astera Labs in the 1st quarter valued at approximately $127,268,000. Capital World Investors acquired a new position in Astera Labs in the first quarter valued at approximately $44,514,000. Price T Rowe Associates Inc. MD purchased a new position in Astera Labs in the first quarter worth approximately $44,514,000. Bamco Inc. NY acquired a new stake in Astera Labs during the first quarter worth $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Astera Labs during the first quarter worth $33,141,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Roth Mkm lowered their price target 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. Craig Hallum reduced their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Barclays lowered their price objective on Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs 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.