Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 52,743 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 52,743 shares of Astera Labs stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.86, for a total value of $5,319,658.98. Following the completion of the sale, the chief executive officer now directly owns 512,218 shares in the company, valued at $51,662,307.48. This represents a 9.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, June 17th, Jitendra Mohan sold 106,510 shares of Astera Labs stock. The stock was sold at an average price of $94.54, for a total value of $10,069,455.40.
• On Thursday, May 29th, Jitendra Mohan sold 14,200 shares of Astera Labs stock. The shares were sold at an average price of $100.00, for a total value of $1,420,000.00.
• On Monday, May 19th, Jitendra Mohan sold 128,250 shares of Astera Labs stock. The stock was sold at an average price of $90.02, for a total value of $11,545,065.00.
• On Friday, May 16th, Jitendra Mohan sold 91,337 shares of Astera Labs stock. The shares were sold at an average price of $90.67, for a total value of $8,281,525.79.
• On Wednesday, May 14th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The stock was sold at an average price of $90.90, for a total transaction of $6,817,500.00.
• On Thursday, May 8th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00.

Astera Labs Trading Up 1.5%

Astera Labs stock opened at $87.26 on Wednesday. The stock has a 50-day moving average price of $82.71 and a 200 day moving average price of $91.43. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The stock has a market cap of $14.39 billion, a PE ratio of 396.65, a P/E/G ratio of 4.04 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to analysts’ expectations of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm’s revenue for the quarter was up 144.1% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. On average, equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ALAB shares. William Blair started coverage on shares of Astera Labs in a research report on Thursday, May 22nd. They set an “outperform” rating on the stock. Evercore ISI upped their price target on Astera Labs from $87.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, May 21st. Morgan Stanley raised Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a report on Monday, May 12th. Susquehanna initiated coverage on Astera Labs in a report on Friday, May 16th. They issued a “neutral” rating and a $80.00 target price on the stock. Finally, Raymond James Financial initiated coverage on Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price target for the company. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $100.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC boosted its stake in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after buying an additional 284 shares during the period. Trifecta Capital Advisors LLC acquired a new position in shares of Astera Labs during the 4th quarter valued at about $43,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Astera Labs during the 4th quarter worth about $43,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.