Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells $10,382,274.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This represents a 34.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, February 18th, Michael Truett Tate sold 34,474 shares of Astera Labs stock. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18.
• On Wednesday, December 4th, Michael Truett Tate sold 16,000 shares of Astera Labs stock. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00.
• On Monday, December 2nd, Michael Truett Tate sold 167,000 shares of Astera Labs stock. The shares were sold at an average price of $102.94, for a total transaction of $17,190,980.00.

Astera Labs Price Performance

NASDAQ ALAB opened at $74.35 on Friday. The company has a 50 day simple moving average of $111.87 and a 200-day simple moving average of $86.51. The firm has a market capitalization of $12.06 billion and a price-to-earnings ratio of -42.98. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) 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 year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Citigroup initiated coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Roth Mkm raised their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley decreased their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $115.33.

Institutional Trading of Astera Labs

A number of hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the fourth quarter valued at approximately $25,000. Strategic Blueprint LLC raised its position in Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after acquiring an additional 195 shares in the last quarter. Kestra Investment Management LLC bought a new position in Astera Labs during the fourth quarter valued at approximately $28,000. Finally, GAMMA Investing LLC raised its position in Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 224 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

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.