Stefan A. Dyckerhoff Sells 30,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $105.90, for a total value of $3,177,000.00. Following the completion of the sale, the director now owns 3,765 shares of the company’s stock, valued at approximately $398,713.50. This represents a 88.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Astera Labs Stock Performance

Astera Labs stock opened at $99.60 on Thursday. The stock’s 50 day moving average price is $73.12 and its 200 day moving average price is $60.57. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $113.85.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share 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 analysts’ expectations of $97.50 million. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, sell-side analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALAB. JPMorgan Chase & Co. increased their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Craig Hallum upped their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Roth Mkm boosted their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $94.67.

Institutional Investors Weigh In On Astera Labs

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its holdings in shares of Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares during the period. Fred Alger Management LLC grew its holdings in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Vanguard Group Inc. purchased a new position in shares of Astera Labs in the first quarter valued at $127,268,000. Maverick Capital Ltd. raised its stake in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after buying an additional 159,480 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Astera Labs in the 3rd quarter worth about $52,049,000.

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.