Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells 75,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the sale, the chief executive officer now owns 575,000 shares of the company’s stock, valued at approximately $40,853,750. The trade was a 11.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Jitendra Mohan also recently made the following trade(s):

• On Wednesday, February 19th, Jitendra Mohan sold 350,680 shares of Astera Labs stock. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80.

Astera Labs Price Performance

Shares of NASDAQ ALAB traded up $9.08 during trading on Monday, hitting $80.28. 6,332,746 shares of the company were exchanged, compared to its average volume of 3,869,031. The company has a market cap of $13.24 billion, a price-to-earnings ratio of -46.40, a PEG ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm’s fifty day moving average price is $64.32 and its 200 day moving average price is $91.73.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Proficio Capital Partners LLC increased its stake in shares of Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock valued at $2,864,000 after acquiring an additional 390 shares during the last quarter. Peregrine Investment Management Inc. purchased a new stake in shares of Astera Labs during the 4th quarter worth about $10,701,000. Elemental Capital Partners LLC purchased a new stake in shares of Astera Labs during the 4th quarter worth about $1,346,000. Renaissance Capital LLC lifted its position in Astera Labs by 381.0% during the fourth quarter. Renaissance Capital LLC now owns 114,276 shares of the company’s stock valued at $15,136,000 after buying an additional 90,516 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after buying an additional 792,153 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALAB shares. Needham & Company LLC reduced their price objective on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. 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. Stifel Nicolaus reduced their price objective on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Barclays upped their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, Citigroup reduced their price objective on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $99.69.

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.