Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 2,500 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company’s stock, valued at $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Astera Labs Price Performance

Shares of ALAB stock traded down $1.47 during trading hours on Thursday, reaching $88.43. 3,857,298 shares of the company traded hands, compared to its average volume of 5,509,518. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The company has a market cap of $14.34 billion and a P/E ratio of -51.12. The firm has a 50-day moving average price of $118.33 and a 200 day moving average price of $84.52.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.76%. Sell-side analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALAB shares. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. Stifel Nicolaus lifted their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Morgan Stanley dropped their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $115.33.

Institutional Trading of Astera Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs during the 4th quarter valued at approximately $25,000. Hollencrest Capital Management bought a new stake in Astera Labs in the 3rd quarter worth approximately $26,000. Steward Partners Investment Advisory LLC increased its stake in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Astera Labs in the 4th quarter worth approximately $28,000. Finally, Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the 4th quarter valued at approximately $36,000. Institutional investors own 60.47% of the company’s stock.

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.