Sanjay Gajendra Sells 740,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the transaction, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Sanjay Gajendra also recently made the following trade(s):

• On Friday, October 11th, Sanjay Gajendra sold 110,000 shares of Astera Labs stock. The shares were sold at an average price of $69.47, for a total transaction of $7,641,700.00.
• On Tuesday, September 17th, Sanjay Gajendra sold 76,701 shares of Astera Labs stock. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32.

Astera Labs Trading Down 1.6 %

NASDAQ ALAB opened at $89.30 on Thursday. The company’s 50 day simple moving average is $61.06 and its 200 day simple moving average is $58.88. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $100.09.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The firm’s revenue was up 47.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Trading of Astera Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in ALAB. Hollencrest Capital Management bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs during the third quarter valued at approximately $46,000. First Horizon Advisors Inc. acquired a new stake in shares of Astera Labs during the third quarter valued at approximately $49,000. Allworth Financial LP raised its holdings 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 valued at $57,000 after acquiring an additional 891 shares during the period. Finally, Amalgamated Bank acquired a new stake in shares of Astera Labs during the second quarter valued at approximately $74,000.

Analysts Set New Price Targets

ALAB has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their target price on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Craig Hallum boosted their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI reduced their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays boosted their price target on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $92.36.

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.