Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate Sells 34,474 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 34,474 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18. Following the sale, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at approximately $22,487,360.94. This represents a 12.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 shares were sold at an average price of $102.94, for a total value of $17,190,980.00.

Astera Labs Stock Performance

Shares of ALAB stock traded down $1.47 during trading hours on Thursday, reaching $88.43. The company had a trading volume of 3,857,298 shares, compared to its average volume of 5,509,518. The stock has a fifty day moving average of $118.33 and a 200-day moving average of $84.52. The company has a market capitalization of $14.34 billion and a price-to-earnings ratio of -51.12. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data 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 net margin of 21.05% and a negative return on equity of 10.76%. On average, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALAB shares. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Roth Mkm boosted their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Citigroup started coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $115.33.

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 during the third quarter worth $1,725,000. International Assets Investment Management LLC purchased a new position in Astera Labs in the third quarter valued at $34,310,000. Dakota Wealth Management purchased a new position in Astera Labs in the third quarter valued at $2,204,000. Mount Yale Investment Advisors LLC purchased a new position in Astera Labs in the third quarter valued at $594,000. Finally, Highland Capital Management LLC purchased a new position in Astera Labs in the third quarter valued at $1,594,000. 60.47% of the stock is currently 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.