Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Insider Sells $8,281,525.79 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) insider Sanjay Gajendra sold 91,337 shares of the firm’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 $8,281,525.79. Following the completion of the sale, the insider now owns 2,262,318 shares of the company’s stock, valued at approximately $205,124,373.06. The trade was a 3.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Sanjay Gajendra also recently made the following trade(s):

• On Thursday, May 8th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00.

Astera Labs Trading Up 2.3%

ALAB stock opened at $94.30 on Friday. The firm has a 50 day moving average of $68.47 and a 200-day moving average of $92.59. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The company has a market cap of $15.55 billion, a price-to-earnings ratio of -54.51, a PEG ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data 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 business had revenue of $159.44 million during the quarter, compared to analysts’ expectations of $151.55 million. During the same period last year, the company posted $0.10 EPS. The company’s revenue was up 144.1% on a year-over-year basis. Sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Astera Labs by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 9,297,476 shares of the company’s stock worth $554,780,000 after purchasing an additional 85,846 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Astera Labs by 114.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock worth $501,289,000 after purchasing an additional 4,478,741 shares in the last quarter. Atreides Management LP increased its stake in shares of Astera Labs by 153.3% during the 1st quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock worth $277,601,000 after purchasing an additional 2,815,614 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after purchasing an additional 792,153 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in shares of Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock worth $240,873,000 after purchasing an additional 1,384,498 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALAB has been the subject of a number of recent analyst reports. 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. 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. 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. William Blair began coverage on shares of Astera Labs in a research report on Thursday. They issued an “outperform” rating for the company. Finally, Susquehanna began coverage on shares of Astera Labs in a research report on Friday, May 16th. They set a “neutral” rating and a $80.00 price target for the company. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $100.00.

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.