Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 171,064 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the transaction, the chief executive officer now owns 628,895 shares of the company’s stock, valued at $65,109,499.35. This trade represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, October 11th, Jitendra Mohan sold 47,667 shares of Astera Labs stock. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42.

Astera Labs Trading Up 4.9 %

ALAB opened at $107.31 on Tuesday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $113.85. The business’s 50-day moving average price is $70.87 and its 200-day moving average price is $60.05.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ALAB shares. Roth Mkm upped their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Citigroup began coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Astera Labs has a consensus rating of “Buy” and an average target price of $94.67.

Institutional Investors Weigh In On Astera Labs

A number of large investors have recently added to or reduced their stakes in ALAB. Sei Investments Co. bought a new position in shares of Astera Labs during the first quarter valued at approximately $952,000. Vanguard Group Inc. purchased a new stake in shares of Astera Labs in the first quarter worth $127,268,000. Price T Rowe Associates Inc. MD purchased a new stake in Astera Labs during the 1st quarter valued at about $44,514,000. Janus Henderson Group PLC purchased a new position in Astera Labs in the first quarter worth about $20,025,000. Finally, Rokos Capital Management LLP purchased a new stake in shares of Astera Labs during the first quarter valued at approximately $1,484,000.

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.