Astera Labs, Inc. (NASDAQ:ALAB) CEO Sells $6,817,500.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $90.90, for a total transaction of $6,817,500.00. Following the transaction, the chief executive officer now directly owns 562,500 shares of the company’s stock, valued at approximately $51,131,250. This represents a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Thursday, May 8th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The stock was sold at an average price of $71.05, for a total transaction of $5,328,750.00.
• On Wednesday, February 19th, Jitendra Mohan sold 350,680 shares of Astera Labs stock. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80.

Astera Labs Stock Performance

Shares of ALAB opened at $90.56 on Monday. The company has a 50 day moving average price of $66.62 and a 200-day moving average price of $92.28. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a market capitalization of $14.93 billion, a PE ratio of -52.35, a PEG ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $159.44 million during the quarter, compared to analysts’ expectations of $151.55 million. During the same quarter in the prior year, the company earned $0.10 EPS. The company’s revenue was up 144.1% compared to the same quarter last year. Equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ALAB. Craig Hallum lifted their price target 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. Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price objective for the company in a research report on Monday, May 12th. Stifel Nicolaus lowered their price objective on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average target price of $98.29.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently modified their holdings of ALAB. Steward Partners Investment Advisory LLC raised its stake in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the 4th quarter worth approximately $25,000. Hoey Investments Inc. raised its stake in shares of Astera Labs by 4.2% during the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company’s stock worth $298,000 after acquiring an additional 200 shares in the last quarter. Sound Income Strategies LLC raised its stake 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 in the last quarter. Finally, Kestra Investment Management LLC bought a new position in shares of Astera Labs during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

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.