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 business’s stock in a transaction on Friday, September 20th. The shares were 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 of the company’s stock, valued at $25,343,150. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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 value of $1,861,840.00.

Astera Labs Price Performance

NASDAQ ALAB opened at $54.75 on Friday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $95.21. The firm has a 50-day moving average of $43.93.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities research analysts forecast that Astera Labs, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALAB shares. Craig Hallum decreased their price objective on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a research report 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 price objective on the stock in a research report on Wednesday, September 4th. Needham & Company LLC cut their target price on shares of Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus lowered their price target on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Roth Mkm cut their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $71.36.

Institutional Trading of Astera Labs

Institutional investors have recently modified their holdings of the company. Amalgamated Bank purchased a new position in Astera Labs during the 2nd quarter valued at about $74,000. Massachusetts Financial Services Co. MA increased its stake in shares of Astera Labs by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock valued at $5,531,000 after buying an additional 2,343 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Astera Labs by 11,920.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock valued at $182,000 after acquiring an additional 2,980 shares in the last quarter. Legato Capital Management LLC purchased a new stake in Astera Labs in the second quarter worth $207,000. Finally, Alpine Global Management LLC bought a new stake in Astera Labs in the first quarter valued at $272,000.

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.