Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) Director Sells 30,000 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Stefan A. Dyckerhoff sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $105.90, for a total transaction of $3,177,000.00. Following the transaction, the director now directly owns 3,765 shares of the company's stock, valued at $398,713.50. This represents a 88.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Astera Labs Trading Down 1.7 %

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Shares of NASDAQ:ALAB traded down $1.83 during midday trading on Tuesday, hitting $105.48. The company had a trading volume of 4,339,811 shares, compared to its average volume of 3,179,274. The company has a fifty day moving average of $70.87 and a two-hundred day moving average of $60.05. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $113.85.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts' expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs's revenue for the quarter was up 47.1% on a year-over-year basis. Sell-side analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

• Astera Labs’ Big Stock Jump: Can the Growth Be Sustained?

Several equities analysts have recently issued reports on ALAB shares. Deutsche Bank Aktiengesellschaft lifted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Morgan Stanley upped their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Evercore ISI reduced their price target on shares of Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $94.67.

View Our Latest Research Report on ALAB

Institutional Trading of Astera Labs

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Institutional investors have recently made changes to their positions in the business. Strategic Blueprint LLC raised its position in shares of Astera Labs by 3.6% during the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock valued at $298,000 after buying an additional 195 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company's stock valued at $277,000 after acquiring an additional 284 shares during the last quarter. Hollencrest Capital Management bought a new stake in Astera Labs in the 3rd quarter valued at $26,000. Venturi Wealth Management LLC lifted its stake in Astera Labs by 26.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company's stock worth $126,000 after purchasing an additional 500 shares in the last quarter. Finally, US Bancorp DE bought a new position in shares of Astera Labs during the 3rd quarter valued at about $46,000.

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.

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