Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff Sells 30,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 30,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $105.90, for a total transaction of $3,177,000.00. Following the completion of the sale, the director now owns 3,765 shares in the company, valued at $398,713.50. This represents a 88.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Astera Labs Price Performance

Shares of ALAB stock traded down $1.83 during mid-day trading on Tuesday, hitting $105.48. The stock had a trading volume of 4,339,811 shares, compared to its average volume of 3,179,274. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $113.85. The firm’s 50-day moving average is $70.87 and its two-hundred day moving average is $60.05.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (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 for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs’s revenue was up 47.1% on a year-over-year basis. On average, analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds have recently made changes to their positions in the stock. Strategic Blueprint LLC raised its stake in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after acquiring an additional 195 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Astera Labs by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after purchasing an additional 284 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $26,000. Venturi Wealth Management LLC boosted its position in shares of Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares in the last quarter. Finally, US Bancorp DE acquired a new position in Astera Labs during the 3rd quarter valued at about $46,000.

Analysts Set New Price Targets

A number of equities analysts have commented on ALAB shares. Barclays lifted their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price target on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Craig Hallum upped their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised 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. Finally, Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Twelve investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $94.67.

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.