Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $3,992,310.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the transaction, the director now owns 444,863 shares in the company, valued at $28,190,968.31. The trade was a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Astera Labs Price Performance

NASDAQ:ALAB opened at $52.94 on Friday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a market cap of $8.58 billion and a PE ratio of -30.60. The firm’s 50 day simple moving average is $78.49 and its 200 day simple moving average is $90.43.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Astera Labs

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares during the period. Alliancebernstein L.P. lifted its holdings in Astera Labs by 2,328.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after buying an additional 3,760,765 shares during the period. Jennison Associates LLC bought a new stake in Astera Labs during the fourth quarter valued at $229,991,000. Lord Abbett & CO. LLC raised its position in shares of Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock worth $240,873,000 after acquiring an additional 1,384,498 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Astera Labs in the 4th quarter valued at about $179,229,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALAB has been the topic of a number of recent research reports. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Barclays upped their price target 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. Morgan Stanley decreased 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 note on Tuesday, January 28th. Finally, Raymond James assumed coverage on Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 target price for the company. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average target price of $112.77.

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.