Michael Truett Tate Sells 100,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $62.03, for a total transaction of $6,203,000.00. Following the completion of the transaction, the chief financial officer now owns 1,762,888 shares in the company, valued at approximately $109,351,942.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, August 29th, Michael Truett Tate sold 50,000 shares of Astera Labs stock. The shares were sold at an average price of $47.98, for a total transaction of $2,399,000.00.

Astera Labs Stock Up 0.9 %

Shares of NASDAQ:ALAB opened at $66.69 on Friday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $95.21. The company has a 50 day moving average price of $45.84 and a two-hundred day moving average price of $58.36.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million for the quarter, compared to the consensus estimate of $72.41 million. Astera Labs’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Astera Labs, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

Large investors have recently made changes to their positions in the stock. Sei Investments Co. bought a new stake in shares of Astera Labs during the first quarter worth $952,000. Vanguard Group Inc. bought a new stake in shares of Astera Labs during the first quarter worth $127,268,000. Forge First Asset Management Inc. bought a new stake in shares of Astera Labs during the first quarter worth $1,143,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs during the first quarter worth $44,514,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Astera Labs during the first quarter worth $18,666,000.

Analyst Ratings Changes

ALAB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target 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. Barclays reduced their price target 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. Stifel Nicolaus reduced their target price on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. JPMorgan Chase & Co. reduced their target price on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Morgan Stanley upped their target price on shares of Astera Labs from $55.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eleven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $73.09.

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.