Michael Truett Tate Sells 125,800 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

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

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

Astera Labs Stock Down 1.8 %

Shares of ALAB opened at $74.35 on Friday. The business’s 50 day moving average price is $111.87 and its 200-day moving average price is $86.19. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The stock has a market cap of $12.06 billion and a P/E ratio of -42.98.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 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, equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on ALAB. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus upped their target price on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Tuesday, January 28th. Finally, Barclays upped their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $115.33.

Hedge Funds Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALAB. Allworth Financial LP lifted its position in Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares in the last quarter. Strategic Blueprint LLC lifted its position in Astera Labs by 3.6% in the 3rd 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. US Bancorp DE bought a new position in Astera Labs in the 3rd quarter valued at approximately $46,000. Realta Investment Advisors bought a new position in Astera Labs in the 3rd quarter valued at approximately $244,000. Finally, Janney Capital Management LLC bought a new position in Astera Labs in the 3rd quarter valued at approximately $388,000. 60.47% of the stock is owned by institutional investors.

Astera Labs Company Profile

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.