Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Sells 2,513 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the transaction, the general counsel now owns 248,745 shares in the company, valued at approximately $22,588,533.45. This represents a 1.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, November 7th, Philip Mazzara sold 42,000 shares of Astera Labs stock. The shares were sold at an average price of $96.56, for a total transaction of $4,055,520.00.
• 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 transaction of $1,518,500.00.
• On Monday, August 26th, Philip Mazzara sold 8,000 shares of Astera Labs stock. The stock was 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 Stock Performance

Astera Labs stock opened at $103.93 on Friday. The stock’s 50-day moving average is $68.42 and its 200-day moving average is $59.80. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $108.37.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on ALAB shares. Roth Mkm boosted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Citigroup started coverage on Astera Labs in a research note on Monday. They issued a “buy” rating and a $120.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus boosted their price objective on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Barclays boosted their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $94.67.

Institutional Investors Weigh In On Astera Labs

A number of large investors have recently modified their holdings of ALAB. Hollencrest Capital Management acquired a new stake in Astera Labs during the 3rd quarter valued at approximately $26,000. US Bancorp DE bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $46,000. First Horizon Advisors Inc. bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $49,000. Allworth Financial LP lifted its holdings in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in shares of Astera Labs in the 2nd quarter worth approximately $74,000.

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.