Manuel Alba Sells 37,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 37,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $50.32, for a total value of $1,861,840.00. Following the completion of the sale, the director now directly owns 498,863 shares of the company’s stock, valued at approximately $25,102,786.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Manuel Alba also recently made the following trade(s):

• On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00.

Astera Labs Trading Up 5.1 %

Astera Labs stock opened at $54.75 on Friday. The business’s 50-day moving average is $43.93. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $95.21.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Research analysts anticipate that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in shares of Astera Labs during the 1st quarter valued at about $127,268,000. Capital World Investors purchased a new position in Astera Labs during the first quarter worth approximately $44,514,000. Price T Rowe Associates Inc. MD acquired a new stake in Astera Labs in the first quarter valued at approximately $44,514,000. Bamco Inc. NY purchased a new stake in shares of Astera Labs in the first quarter valued at approximately $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Astera Labs during the 1st quarter worth approximately $33,141,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALAB shares. Roth Mkm cut their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC reduced their target price on Astera Labs from $85.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus lowered their price target on Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Evercore ISI cut their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, Craig Hallum decreased their target price on Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, Astera Labs has an average rating of “Buy” and a consensus price target of $71.36.

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.