Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 76,258 Shares

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 76,258 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $112.72, for a total transaction of $8,595,801.76. Following the completion of the transaction, the chief executive officer owned 475,421 shares in the company, valued at approximately $53,589,455.12. This trade represents a 13.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, July 18th, Jitendra Mohan sold 45,755 shares of Astera Labs stock. The stock was sold at an average price of $100.25, for a total transaction of $4,586,938.75.
• On Thursday, July 17th, Jitendra Mohan sold 80,503 shares of Astera Labs stock. The stock was sold at an average price of $94.37, for a total transaction of $7,597,068.11.
• On Thursday, July 10th, Jitendra Mohan sold 11,282 shares of Astera Labs stock. The stock was sold at an average price of $102.46, for a total transaction of $1,155,953.72.
• On Wednesday, July 9th, Jitendra Mohan sold 6,982 shares of Astera Labs stock. The stock was sold at an average price of $100.01, for a total transaction of $698,269.82.
• On Friday, June 20th, Jitendra Mohan sold 52,743 shares of Astera Labs stock. The stock was sold at an average price of $100.86, for a total transaction of $5,319,658.98.
• 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 transaction of $10,069,455.40.
• On Thursday, May 29th, Jitendra Mohan sold 14,200 shares of Astera Labs stock. The stock was sold at an average price of $100.00, for a total transaction 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 transaction of $11,545,065.00.
• On Friday, May 16th, Jitendra Mohan sold 91,337 shares of Astera Labs stock. The stock was sold at an average price of $90.67, for a total transaction 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.

Astera Labs Stock Performance

Shares of ALAB stock opened at $122.23 on Friday. The stock’s fifty day moving average is $96.02 and its two-hundred day moving average is $86.41. The firm has a market capitalization of $20.16 billion, a P/E ratio of 555.62, a PEG ratio of 5.71 and a beta of 1.18. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The firm’s revenue for the quarter was up 144.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. On average, equities analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the 4th quarter worth $25,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Astera Labs during the 2nd quarter worth $29,000. Bernard Wealth Management Corp. purchased a new position in shares of Astera Labs during the 2nd quarter worth $36,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of Astera Labs during the 4th quarter worth $43,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company’s stock worth $47,000 after acquiring an additional 204 shares during the period. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays raised their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Jefferies Financial Group increased their target price on Astera Labs from $95.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday. Northland Capmk lowered Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Northland Securities lowered Astera Labs from an “outperform” rating to a “market perform” rating and set a $120.00 target price on the stock. in a research report on Tuesday. Finally, William Blair started coverage on Astera Labs in a research report on Thursday, May 22nd. They set an “outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.67.

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.