Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells 34,474 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 34,474 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $3,174,021.18. Following the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at approximately $22,487,360.94. This represents a 12.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Michael Truett Tate also recently made the following trade(s):

• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00.
• On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The stock was sold at an average price of $102.94, for a total value of $17,190,980.00.

Astera Labs Price Performance

ALAB opened at $88.43 on Friday. The firm has a market capitalization of $14.34 billion and a PE ratio of -51.12. The business’s 50-day moving average is $117.65 and its two-hundred day moving average is $84.55. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. As a group, sell-side analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. 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 report on Tuesday, January 28th. Morgan Stanley lowered their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Barclays increased their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Astera Labs has a consensus rating of “Buy” and a consensus target price of $115.33.

Hedge Funds Weigh In On Astera Labs

A number of large investors have recently made changes to their positions in ALAB. Tidal Investments LLC boosted its position in shares of Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astera Labs in the third quarter worth about $530,000. Avior Wealth Management LLC purchased a new stake in shares of Astera Labs during the third quarter worth about $361,000. Maverick Capital Ltd. increased its holdings in shares of Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, Bank of Hawaii acquired a new position in shares of Astera Labs during the third quarter valued at about $1,409,000. 60.47% of the stock is owned by institutional investors and hedge funds.

About Astera Labs

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.