Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara Sells 3,809 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 3,809 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $90.67, for a total transaction of $345,362.03. Following the completion of the sale, the general counsel now directly owns 187,596 shares of the company’s stock, valued at $17,009,329.32. This represents a 1.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, May 19th, Philip Mazzara sold 25,000 shares of Astera Labs stock. The shares were sold at an average price of $90.13, for a total transaction of $2,253,250.00.
• 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 transaction of $4,373,000.00.

Astera Labs Stock Performance

ALAB stock opened at $94.46 on Wednesday. The company’s 50 day moving average price is $67.63 and its 200 day moving average price is $92.42. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of -54.60, a PEG ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was up 144.1% compared to the same quarter last year. Equities analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALAB has been the subject of a number of analyst reports. Needham & Company LLC dropped their price objective on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Citigroup dropped their price objective on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 14th. Raymond James initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Barclays upped their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Finally, Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $98.29.

Hedge Funds Weigh In On Astera Labs

Several hedge funds have recently added to or reduced their stakes in ALAB. Park Avenue Securities LLC purchased a new position in Astera Labs in the fourth quarter valued at approximately $500,000. Oak Ridge Investments LLC purchased a new position in Astera Labs in the fourth quarter valued at approximately $284,000. Mandatum Life Insurance Co Ltd purchased a new position in Astera Labs in the fourth quarter valued at approximately $462,000. Trueblood Wealth Management LLC purchased a new position in Astera Labs in the fourth quarter valued at approximately $331,000. Finally, Dakota Wealth Management increased its stake in Astera Labs by 2.5% in the fourth quarter. Dakota Wealth Management now owns 43,110 shares of the company’s stock valued at $5,710,000 after purchasing an additional 1,049 shares during the last quarter. 60.47% of the stock is currently owned by hedge funds and other 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.