Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Sells $4,373,000.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the sale, the general counsel now owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Philip Mazzara also recently made the following trade(s):

• On Tuesday, February 18th, Philip Mazzara sold 7,536 shares of Astera Labs stock. The shares were sold at an average price of $92.07, for a total value of $693,839.52.

Astera Labs Price Performance

Astera Labs stock traded down $1.47 during mid-day trading on Thursday, hitting $88.43. The company’s stock had a trading volume of 3,857,298 shares, compared to its average volume of 5,509,518. The firm’s 50 day moving average is $118.33 and its 200 day moving average is $84.52. The company has a market cap of $14.34 billion and a PE ratio of -51.12. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. As a group, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALAB. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs in the 4th quarter worth about $25,000. Hollencrest Capital Management acquired a new position in Astera Labs in the 3rd quarter worth about $26,000. Steward Partners Investment Advisory LLC increased its position in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Astera Labs in the 4th quarter worth about $28,000. Finally, Geneos Wealth Management Inc. acquired a new position in Astera Labs in the 4th quarter worth about $36,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALAB. Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday, January 28th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 target price for the company. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $115.33.

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.