Jitendra Mohan Sells 350,680 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, November 25th, Jitendra Mohan sold 173,366 shares of Astera Labs stock. The shares were sold at an average price of $110.12, for a total transaction of $19,091,063.92.

Astera Labs Stock Performance

ALAB opened at $85.72 on Friday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a market cap of $13.90 billion and a P/E ratio of -49.55. The business’s 50-day simple moving average is $116.72 and its 200-day simple moving average is $84.84.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. As a group, analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs in the fourth quarter valued at $25,000. Hollencrest Capital Management purchased a new stake in shares of Astera Labs in the 3rd quarter valued at about $26,000. Steward Partners Investment Advisory LLC boosted its position in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC purchased a new position in Astera Labs during the 4th quarter worth approximately $28,000. Finally, Geneos Wealth Management Inc. acquired a new position in Astera Labs during the fourth quarter worth approximately $36,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ALAB shares. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Tuesday, January 28th. Morgan Stanley cut their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Citigroup started coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. 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, Astera Labs has a consensus rating of “Buy” and a consensus price target of $115.33.

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.