Philip Mazzara Sells 7,536 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, February 20th, Philip Mazzara sold 50,000 shares of Astera Labs stock. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00.

Astera Labs Stock Performance

NASDAQ 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 50-day simple moving average of $116.72 and a 200-day simple moving average of $85.13. The firm has a market capitalization of $13.90 billion and a PE ratio of -49.55.

Astera Labs (NASDAQ:ALAB) last posted 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%. Equities analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Citigroup assumed coverage on shares of Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. Craig Hallum raised their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Roth Mkm raised their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Astera Labs currently has a consensus rating of “Buy” and an average target price of $115.33.

Institutional Trading of Astera Labs

Several hedge funds have recently bought and sold shares of ALAB. Vanguard Group Inc. lifted its position in Astera Labs by 354.9% in the 4th 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 during the last quarter. Alliancebernstein L.P. lifted its position in Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the last quarter. Fred Alger Management LLC lifted its position in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Jennison Associates LLC bought a new stake in Astera Labs in the 4th quarter valued at about $229,991,000. Finally, Lord Abbett & CO. LLC lifted its position in Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after purchasing an additional 1,384,498 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

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.