Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara Sells 7,536 Shares

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the transaction, the general counsel now owns 241,209 shares of the company’s stock, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Philip Mazzara also recently made the following trade(s):

• On Thursday, February 20th, Philip Mazzara sold 50,000 shares of Astera Labs stock. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00.

Astera Labs Stock Down 1.6 %

Shares of Astera Labs stock traded down $1.47 on Thursday, hitting $88.43. 3,857,298 shares of the company were exchanged, compared to its average volume of 5,509,518. The stock has a market capitalization of $14.34 billion and a price-to-earnings ratio of -51.12. The company has a 50-day moving average price of $118.33 and a 200 day moving average price of $84.52. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. Research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALAB. Lecap Asset Management Ltd. acquired a new position in Astera Labs in the third quarter valued at approximately $1,725,000. International Assets Investment Management LLC purchased a new stake in shares of Astera Labs during the third quarter worth $34,310,000. Dakota Wealth Management purchased a new stake in shares of Astera Labs during the third quarter worth $2,204,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of Astera Labs during the third quarter worth $594,000. Finally, Highland Capital Management LLC purchased a new stake in shares of Astera Labs during the third quarter worth $1,594,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays lifted their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Citigroup began coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $115.33.

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.