Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $31,389,366.80 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Jitendra Mohan also recently made the following trade(s):

• On Monday, November 25th, Jitendra Mohan sold 173,366 shares of Astera Labs stock. The stock was sold at an average price of $110.12, for a total transaction of $19,091,063.92.

Astera Labs Stock Down 3.1 %

Shares of Astera Labs stock opened at $85.72 on Friday. The firm has a market capitalization of $13.90 billion and a P/E ratio of -49.55. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The firm’s 50 day moving average is $116.72 and its two-hundred day moving average is $85.13.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS 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 expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALAB. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Citigroup initiated coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Morgan Stanley cut their target price 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. Stifel Nicolaus upped their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $115.33.

Hedge Funds Weigh In On Astera Labs

Hedge funds have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the fourth quarter worth approximately $25,000. Hollencrest Capital Management purchased a new position in shares of Astera Labs during the third quarter worth approximately $26,000. Steward Partners Investment Advisory LLC grew its position in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Astera Labs during the fourth quarter worth approximately $28,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs during the fourth quarter worth approximately $36,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

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.