Michael Truett Tate Sells 34,474 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 34,474 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18. Following the completion of the sale, the chief financial officer now owns 244,242 shares of the company’s stock, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Michael Truett Tate also recently made the following trade(s):

• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00.
• On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The stock was sold at an average price of $102.94, for a total value of $17,190,980.00.

Astera Labs Stock Down 3.1 %

Shares of NASDAQ:ALAB opened at $85.72 on Friday. The stock has a market cap of $13.90 billion and a price-to-earnings ratio of -49.55. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The business’s 50 day moving average is $116.72 and its 200 day moving average is $85.13.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, equities research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. Barclays raised their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft raised their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus raised their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $115.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC grew its stake in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in Astera Labs in the 4th quarter valued at $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs in the 4th quarter valued at $36,000. Finally, Global Retirement Partners LLC grew its stake in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the period. Institutional investors own 60.47% of the company’s stock.

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.