Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate Sells 9,107 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) CFO Michael Truett Tate sold 9,107 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 $825,731.69. Following the completion of the sale, the chief financial officer now owns 235,135 shares in the company, valued at $21,319,690.45. This represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Michael Truett Tate also recently made the following trade(s):

• On Wednesday, February 26th, Michael Truett Tate sold 125,800 shares of Astera Labs stock. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00.

Astera Labs Trading Up 4.6%

ALAB opened at $94.46 on Wednesday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a market capitalization of $15.58 billion, a PE ratio of -54.60, a P/E/G ratio of 6.18 and a beta of 0.33. The firm has a 50 day moving average of $67.63 and a two-hundred day moving average of $92.42.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) 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 company had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same period last year, the firm posted $0.10 EPS. Astera Labs’s revenue for the quarter was up 144.1% compared to the same quarter last year. As a group, analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALAB. Morgan Stanley upgraded shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price for the company in a research note on Monday, May 12th. Craig Hallum lifted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Stifel Nicolaus lowered their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Raymond James began coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price for the company. Finally, Susquehanna began coverage on shares of Astera Labs in a research note on Friday, May 16th. They issued a “neutral” rating and a $80.00 target price for the company. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $98.29.

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 valued at $554,780,000 after purchasing an additional 85,846 shares in the last quarter. Alliancebernstein L.P. increased its holdings 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 valued at $501,289,000 after purchasing an additional 4,478,741 shares in the last quarter. Atreides Management LP increased its holdings 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 valued at $277,601,000 after purchasing an additional 2,815,614 shares in the last quarter. JPMorgan Chase & Co. increased its holdings 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 valued at $312,644,000 after purchasing an additional 792,153 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings 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 valued at $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.

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.