Astera Labs, Inc. (NASDAQ:ALAB) Insider Sanjay Gajendra Sells 740,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the sale, the insider now owns 775,000 shares in the company, valued at $74,857,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sanjay Gajendra also recently made the following trade(s):

• On Friday, October 11th, Sanjay Gajendra sold 110,000 shares of Astera Labs stock. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00.
• On Tuesday, September 17th, Sanjay Gajendra sold 76,701 shares of Astera Labs stock. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32.

Astera Labs Stock Down 1.6 %

Shares of Astera Labs stock traded down $1.50 on Tuesday, hitting $90.75. 4,363,290 shares of the company’s stock traded hands, compared to its average volume of 3,041,599. The company has a fifty day moving average of $60.03 and a two-hundred day moving average of $58.84. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $100.09.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Equities research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALAB. Massachusetts Financial Services Co. MA raised its position in shares of Astera Labs by 253.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 322,993 shares of the company’s stock worth $16,922,000 after purchasing an additional 231,585 shares during the period. First Horizon Advisors Inc. bought a new position in Astera Labs in the 3rd quarter valued at about $49,000. Avior Wealth Management LLC purchased a new position in Astera Labs during the 3rd quarter worth $361,000. Meeder Asset Management Inc. purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $1,141,000. Finally, LMR Partners LLP increased its position in Astera Labs by 175.0% in the third quarter. LMR Partners LLP now owns 275,000 shares of the company’s stock worth $14,407,000 after buying an additional 175,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ALAB. Barclays lifted their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their price target on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Craig Hallum raised their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $92.36.

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.