Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $31,389,366.80 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This trade represents a 12.97 % 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 link.

Jitendra Mohan also recently made the following trade(s):

• On Monday, November 25th, Jitendra Mohan sold 173,366 shares of Astera Labs stock. The shares were sold at an average price of $110.12, for a total value of $19,091,063.92.

Astera Labs Trading Down 3.1 %

Shares of ALAB stock opened at $85.72 on Monday. The firm has a fifty day moving average price of $116.72 and a 200 day moving average price of $85.48. The company has a market cap of $13.90 billion and a P/E ratio of -49.55. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last released 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 net margin of 21.05% and a negative return on equity of 10.40%. On average, equities analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Astera Labs

Several large investors have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALAB. Roth Mkm raised their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Citigroup assumed coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Finally, Craig Hallum lifted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. 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 MarketBeat, the company currently has a consensus rating of “Buy” and an average 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.