Jitendra Mohan Sells 350,680 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Jitendra Mohan also recently made the following trade(s):

• On Monday, November 25th, Jitendra Mohan sold 173,366 shares of Astera Labs stock. The stock was sold at an average price of $110.12, for a total transaction of $19,091,063.92.

Astera Labs Trading Down 3.1 %

Shares of ALAB opened at $85.72 on Friday. The firm has a 50-day moving average price of $116.72 and a 200 day moving average price of $85.13. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a market capitalization of $13.90 billion and a P/E ratio of -49.55.

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%. Equities research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALAB. Stifel Nicolaus upped their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upped their target price 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 dropped their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Barclays upped their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Craig Hallum upped their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Astera Labs currently has an average rating of “Buy” and a consensus price target of $115.33.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALAB. International Assets Investment Management LLC acquired a new position in Astera Labs in the third quarter valued at about $34,310,000. Dakota Wealth Management acquired a new position in Astera Labs in the third quarter valued at about $2,204,000. Mount Yale Investment Advisors LLC acquired a new position in Astera Labs in the third quarter valued at about $594,000. Highland Capital Management LLC acquired a new position in Astera Labs in the third quarter valued at about $1,594,000. Finally, Allworth Financial LP lifted its position 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 in the last quarter. Institutional investors and hedge funds 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.