Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Sells $4,373,000.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the sale, the general counsel now owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Philip Mazzara also recently made the following trade(s):

• On Tuesday, February 18th, Philip Mazzara sold 7,536 shares of Astera Labs stock. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52.

Astera Labs Stock Down 3.1 %

Shares of ALAB opened at $85.72 on Friday. The business has a fifty day moving average of $116.72 and a 200 day moving average of $85.13. The company has a market cap of $13.90 billion and a PE ratio of -49.55. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. As a group, research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley decreased their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus increased their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $115.33.

Institutional Trading of Astera Labs

Several institutional investors have recently added to or reduced their stakes in the company. Lecap Asset Management Ltd. purchased a new stake in shares of Astera Labs in the third quarter worth approximately $1,725,000. International Assets Investment Management LLC bought a new position in Astera Labs in the 3rd quarter valued at $34,310,000. Dakota Wealth Management purchased a new stake in Astera Labs in the third quarter worth $2,204,000. Mount Yale Investment Advisors LLC bought a new stake in shares of Astera Labs during the third quarter worth $594,000. Finally, Highland Capital Management LLC purchased a new stake in shares of Astera Labs during the third quarter valued at $1,594,000. Institutional investors own 60.47% of the company’s stock.

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.