Philip Mazzara Sells 7,536 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares in the company, valued at approximately $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Philip Mazzara also recently made the following trade(s):

• On Thursday, February 20th, Philip Mazzara sold 50,000 shares of Astera Labs stock. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00.

Astera Labs Price Performance

NASDAQ ALAB opened at $85.72 on Friday. The firm’s fifty day moving average price is $116.72 and its 200 day moving average price is $84.84. The company has a market capitalization of $13.90 billion and a price-to-earnings ratio of -49.55. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 EPS 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 10.40%. As a group, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALAB has been the topic of several recent research reports. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Craig Hallum upped their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Citigroup assumed coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on shares of 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. One equities research 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. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $115.33.

Institutional Trading of Astera Labs

Large investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs during the 4th quarter worth $25,000. Hollencrest Capital Management acquired a new stake in Astera Labs during the 3rd quarter worth $26,000. Steward Partners Investment Advisory LLC boosted its stake in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC acquired a new stake in Astera Labs during the 4th quarter worth $28,000. Finally, Geneos Wealth Management Inc. acquired a new stake in Astera Labs during the 4th quarter worth $36,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.