Rep. Robert Bresnahan, Jr. Sells Off Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Astera Labs, Inc. (NASDAQ:ALAB). In a filing disclosed on March 27th, the Representative disclosed that they had sold between $1,001 and $15,000 in Astera Labs stock on February 27th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Intuit (NASDAQ:INTU) on 3/7/2025.
• Sold $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 3/6/2025.
• Purchased $1,001 – $15,000 in shares of SEA (NYSE:SE) on 3/5/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Twilio (NYSE:TWLO) on 3/4/2025.
• Sold $15,001 – $50,000 in shares of Alibaba Group (NYSE:BABA) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Zoom Video Communications (NASDAQ:ZM) on 3/4/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 3/3/2025.
• Purchased $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 3/3/2025.

Astera Labs Trading Down 3.2 %

Shares of NASDAQ ALAB traded down $2.01 during trading hours on Friday, reaching $60.78. The stock had a trading volume of 3,132,437 shares, compared to its average volume of 3,666,769. The firm has a market cap of $9.86 billion and a price-to-earnings ratio of -35.13. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm has a 50-day moving average of $85.00 and a 200-day moving average of $89.84.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data 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%. On average, equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

ALAB has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Stifel Nicolaus lifted their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Raymond James began coverage on Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 price target for the company. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Finally, Barclays boosted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $112.77.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 570,990 shares of company stock valued at $50,242,702.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs in the 4th quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC increased its position in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after buying an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Astera Labs during the 4th quarter worth $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs in the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC grew its stake in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after acquiring an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.