Manuel Alba Sells 63,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the sale, the director now directly owns 444,863 shares in the company, valued at $28,190,968.31. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Astera Labs Price Performance

NASDAQ ALAB opened at $52.94 on Friday. The stock has a market capitalization of $8.58 billion and a price-to-earnings ratio of -30.60. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The business’s fifty day moving average price is $78.49 and its 200-day moving average price is $90.74.

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

Institutional Trading of Astera Labs

Several large investors have recently added to or reduced their stakes in ALAB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after acquiring an additional 284 shares during the last quarter. Verition Fund Management LLC purchased a new position in Astera Labs during the third quarter valued at $1,524,000. Holocene Advisors LP bought a new stake in Astera Labs during the third quarter valued at about $3,358,000. Quarry LP purchased a new stake in Astera Labs in the third quarter worth about $109,000. Finally, Stifel Financial Corp increased its position in Astera Labs by 141.2% in the third quarter. Stifel Financial Corp now owns 98,461 shares of the company’s stock worth $5,158,000 after buying an additional 57,638 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ALAB. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Stifel Nicolaus upped their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Raymond James assumed coverage on Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective for the company. Barclays increased their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $112.77.

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.