Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba Sells 12,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 12,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $94.74, for a total transaction of $1,136,880.00. Following the transaction, the director now directly owns 483,863 shares in the company, valued at approximately $45,841,180.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $50.32, for a total transaction of $1,861,840.00.
• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00.

Astera Labs Trading Down 1.6 %

Shares of Astera Labs stock opened at $90.75 on Wednesday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $100.09. The company has a 50 day moving average of $60.03 and a 200 day moving average of $58.84.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data 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. The business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, research analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Strategic Blueprint LLC increased its stake in Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after purchasing an additional 195 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the 3rd quarter valued at $26,000. Venturi Wealth Management LLC raised its stake in Astera Labs by 26.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after acquiring an additional 500 shares in the last quarter. US Bancorp DE purchased a new stake in Astera Labs in the third quarter valued at $46,000. Finally, Allworth Financial LP grew its holdings in shares of Astera Labs by 445.5% during the third 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.

Wall Street Analyst Weigh In

ALAB has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Stifel Nicolaus boosted their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI cut their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and a consensus target price 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.