Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 171,064 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the sale, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.
• On Friday, October 11th, Jitendra Mohan sold 47,667 shares of Astera Labs stock. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $99.60 on Thursday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $113.85. The firm has a fifty day simple moving average of $73.12 and a two-hundred day simple moving average of $60.57.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% on a year-over-year basis. Equities research analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Astera Labs

Institutional investors have recently modified their holdings of the company. Fred Alger Management LLC grew 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 period. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the first quarter valued at about $127,268,000. Westfield Capital Management Co. LP bought a new stake in shares of Astera Labs during the third quarter worth about $52,049,000. The Manufacturers Life Insurance Company raised its holdings in shares of Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after acquiring an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC bought a new position in Astera Labs in the 3rd quarter valued at about $38,565,000.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several recent research reports. Barclays lifted their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Citigroup started coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI dropped their price target on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Morgan Stanley upped their price objective on shares of Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $94.67.

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.