Manuel Alba Sells 63,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the transaction, the director now owns 506,863 shares in the company, valued at $25,343,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Manuel Alba also recently made the following trade(s):

• On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The stock was sold at an average price of $50.32, for a total transaction of $1,861,840.00.

Astera Labs Trading Up 1.8 %

Shares of ALAB opened at $52.10 on Thursday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21. The business’s 50-day moving average is $43.98.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million during the quarter, compared to analyst estimates of $72.41 million. The business’s quarterly revenue was up 17.8% on a year-over-year basis. Equities analysts anticipate that Astera Labs, Inc. will post -0.54 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Craig Hallum lowered their target price on Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price objective on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research note 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 target price for the company in a research note on Wednesday, September 4th. Stifel Nicolaus dropped their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Finally, Roth Mkm lowered their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $71.36.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALAB. Vanguard Group Inc. purchased a new position in Astera Labs during the 1st quarter valued at about $127,268,000. Capital World Investors acquired a new stake in shares of Astera Labs in the first quarter valued at approximately $44,514,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Astera Labs during the 1st quarter worth approximately $44,514,000. Bamco Inc. NY acquired a new position in shares of Astera Labs during the 1st quarter worth approximately $37,095,000. Finally, Lord Abbett & CO. LLC purchased a new stake in Astera Labs in the 1st quarter valued at approximately $33,141,000.

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.