Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara Sells 50,000 Shares

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, February 18th, Philip Mazzara sold 7,536 shares of Astera Labs stock. The shares were sold at an average price of $92.07, for a total value of $693,839.52.

Astera Labs Stock Performance

ALAB opened at $85.72 on Friday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a market cap of $13.90 billion and a price-to-earnings ratio of -49.55. The business’s fifty day moving average is $116.72 and its two-hundred day moving average is $84.84.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Craig Hallum lifted their price target on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $115.33.

Hedge Funds Weigh In On Astera Labs

Institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs in the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Astera Labs in the fourth quarter worth $28,000. Geneos Wealth Management Inc. acquired a new position in Astera Labs in the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC increased its stake in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

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.