Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Insider Sells $3,476,089.32 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 76,701 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares of the company’s stock, valued at $38,748,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Astera Labs Stock Performance

NASDAQ ALAB opened at $50.51 on Friday. The stock’s 50 day simple moving average is $44.25. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $95.21.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to the consensus estimate of $72.41 million. The business’s revenue was up 17.8% compared to the same quarter last year. Analysts forecast that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Craig Hallum dropped their price target 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. Morgan Stanley upgraded shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $55.00 price target for the company in a research note on Wednesday, September 4th. Evercore ISI lowered their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Barclays cut their target price on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $71.36.

Institutional Investors Weigh In On Astera Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new stake in shares of Astera Labs in the second quarter valued at approximately $74,000. Massachusetts Financial Services Co. MA boosted its position in Astera Labs by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock valued at $5,531,000 after buying an additional 2,343 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Astera Labs by 11,920.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after buying an additional 2,980 shares during the period. Legato Capital Management LLC bought a new stake in shares of Astera Labs during the second quarter worth $207,000. Finally, Alpine Global Management LLC acquired a new position in shares of Astera Labs during the first quarter valued at $272,000.

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.