Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $17,857,351.47 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 197,297 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the sale, the director now owns 6,148 shares of the company’s stock, valued at approximately $556,455.48. This represents a 96.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Astera Labs Stock Up 2.7 %

Shares of ALAB traded up $2.61 during trading hours on Wednesday, reaching $97.79. 5,037,521 shares of the stock traded hands, compared to its average volume of 3,096,189. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $100.09. The company’s 50-day moving average price is $66.06 and its two-hundred day moving average price is $59.22.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million for 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%. The business’s revenue was up 47.1% on a year-over-year basis. On average, sell-side analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Astera Labs

Hedge funds have recently bought and sold shares of the stock. Fred Alger Management LLC increased its holdings in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Vanguard Group Inc. bought a new stake in shares of Astera Labs in the 1st quarter worth about $127,268,000. Westfield Capital Management Co. LP bought a new stake in shares of Astera Labs in the 3rd quarter worth about $52,049,000. The Manufacturers Life Insurance Company increased its holdings in shares of Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after buying an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC bought a new stake in shares of Astera Labs in the 3rd quarter worth about $38,565,000.

Wall Street Analyst Weigh In

Several analysts have commented on ALAB shares. JPMorgan Chase & Co. raised their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Barclays raised their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm lifted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $94.67.

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.