Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $17,710,255.92 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at $65,109,499.35. The trade was a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, October 11th, Jitendra Mohan sold 47,667 shares of Astera Labs stock. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42.

Astera Labs Stock Up 4.9 %

Shares of NASDAQ:ALAB opened at $107.31 on Tuesday. The firm’s 50 day simple moving average is $70.87 and its two-hundred day simple moving average is $60.05. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $113.85.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC bought a new stake in shares of Astera Labs during the third quarter valued at approximately $361,000. Sei Investments Co. bought a new stake in Astera Labs in the 1st quarter valued at $952,000. Meeder Asset Management Inc. purchased a new stake in Astera Labs in the 3rd quarter worth $1,141,000. Bank of Hawaii bought a new position in shares of Astera Labs during the 3rd quarter valued at about $1,409,000. Finally, Vanguard Group Inc. purchased a new position in shares of Astera Labs during the first quarter valued at about $127,268,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on ALAB shares. JPMorgan Chase & Co. lifted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price on the stock. Roth Mkm upped their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $94.67.

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.