Sanjay Gajendra Sells 110,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 110,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the transaction, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Sanjay Gajendra also recently made the following trade(s):

• On Tuesday, September 17th, Sanjay Gajendra sold 76,701 shares of Astera Labs stock. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32.

Astera Labs Stock Performance

ALAB opened at $65.59 on Thursday. The company’s 50 day moving average is $47.25 and its 200-day moving average is $58.11. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $95.21.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates 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. The firm’s revenue was up 17.8% compared to the same quarter last year. On average, equities analysts expect that Astera Labs, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Astera Labs

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. bought a new position in shares of Astera Labs during the first quarter valued at $127,268,000. Capital World Investors acquired a new position in Astera Labs during the 1st quarter worth about $44,514,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs in the 1st quarter valued at about $44,514,000. Bamco Inc. NY bought a new stake in shares of Astera Labs in the 1st quarter valued at about $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Astera Labs in the first quarter valued at about $33,141,000.

Analyst Ratings Changes

ALAB has been the subject of a number of analyst reports. Craig Hallum dropped their price target on shares of Astera Labs from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus dropped their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their target price 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 dropped their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Barclays reduced 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 note on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $73.09.

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.