Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Sells $4,373,000.00 in Stock

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

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

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

Astera Labs Trading Down 1.6 %

Astera Labs stock opened at $88.43 on Friday. The firm has a market capitalization of $14.34 billion and a P/E ratio of -51.12. The business has a 50-day moving average of $117.65 and a 200-day moving average of $84.55. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. Research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Astera Labs by 354.9% in the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after purchasing an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after buying an additional 3,760,765 shares during the last quarter. Fred Alger Management LLC boosted its stake in shares of Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Astera Labs in the 4th quarter valued at about $229,991,000. Finally, Lord Abbett & CO. LLC increased its position in shares of Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after acquiring an additional 1,384,498 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ALAB. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley dropped their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Roth Mkm increased their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $115.33.

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.