Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara Sells 42,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 42,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.56, for a total value of $4,055,520.00. Following the sale, the general counsel now owns 258,564 shares in the company, valued at $24,966,939.84. The trade was a 13.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, October 9th, Philip Mazzara sold 25,000 shares of Astera Labs stock. The shares were sold at an average price of $60.74, for a total value of $1,518,500.00.
• On Monday, August 26th, Philip Mazzara sold 8,000 shares of Astera Labs stock. The shares were sold at an average price of $43.12, for a total value of $344,960.00.
• On Friday, August 23rd, Philip Mazzara sold 42,090 shares of Astera Labs stock. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70.

Astera Labs Price Performance

NASDAQ ALAB opened at $88.49 on Friday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $100.09. The business’s 50-day moving average is $62.01 and its 200 day moving average is $59.09.

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

Institutional Trading of Astera Labs

Several large investors have recently bought and sold shares of ALAB. Fred Alger Management LLC boosted its position in Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. Vanguard Group Inc. bought a new stake in Astera Labs during the 1st quarter valued at approximately $127,268,000. Westfield Capital Management Co. LP bought a new stake in Astera Labs during the 3rd quarter valued at approximately $52,049,000. The Manufacturers Life Insurance Company boosted its position in shares of Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after purchasing an additional 873,412 shares in the last quarter. Finally, Spyglass Capital Management LLC bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $38,565,000.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ALAB. Deutsche Bank Aktiengesellschaft lifted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley lifted their price objective on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Craig Hallum lifted their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Evercore ISI decreased their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $92.36.

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.