Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the sale, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Astera Labs Trading Up 1.5 %
Shares of NASDAQ:ALAB traded up $0.69 on Thursday, reaching $47.13. 3,504,680 shares of the company traded hands, compared to its average volume of 2,507,136. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $95.21. The business has a 50-day simple moving average of $44.51.
Astera Labs (NASDAQ:ALAB – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $72.41 million. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, research analysts predict that Astera Labs, Inc. will post -0.54 EPS for the current year.
Institutional Investors Weigh In On Astera Labs
Analyst Ratings Changes
A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Evercore ISI cut their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Barclays decreased their price objective on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Roth Mkm lowered their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Eleven equities 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 target price of $71.36.
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.
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