Astera Labs (NASDAQ:ALAB) Stock Price Down 4.7% on Insider Selling

Astera Labs, Inc. (NASDAQ:ALAB) traded down 4.7% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $92.71 and last traded at $93.39. 1,229,088 shares were traded during trading, a decline of 74% from the average session volume of 4,654,406 shares. The stock had previously closed at $97.96.

Specifically, Director Bethany Mayer sold 686 shares of the firm’s stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $87.47, for a total value of $60,004.42. Following the completion of the transaction, the director now directly owns 6,238 shares of the company’s stock, valued at $545,637.86. This trade represents a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Manuel Alba sold 20,150 shares of the business’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.84, for a total value of $2,031,926.00. Following the transaction, the director now directly owns 432,854 shares of the company’s stock, valued at $43,648,997.36. The trade was a 4.45% decrease in their position. The disclosure for this sale can be found here. In other Astera Labs news, CEO Jitendra Mohan sold 52,743 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.86, for a total transaction of $5,319,658.98. Following the sale, the chief executive officer now owns 512,218 shares in the company, valued at $51,662,307.48. This trade represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

ALAB has been the topic of several research analyst reports. William Blair initiated coverage on Astera Labs in a research note on Thursday, May 22nd. They set an “outperform” rating on the stock. Wall Street Zen raised Astera Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 21st. Roth Capital set a $100.00 price target on Astera Labs and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Needham & Company LLC reduced their price target on Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Citigroup reduced their price target on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $100.00.

Astera Labs Trading Down 7.1%

The stock has a fifty day simple moving average of $84.75 and a 200-day simple moving average of $91.06. The company has a market capitalization of $15.01 billion, a PE ratio of 413.75, a P/E/G ratio of 4.60 and a beta of 1.39.

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, beating analysts’ consensus estimates of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The company’s revenue for the quarter was up 144.1% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. As a group, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Institutional Trading of Astera Labs

Several large investors have recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs during the fourth quarter worth about $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 purchasing an additional 99 shares during the period. Global Retirement Partners LLC boosted its stake in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Astera Labs in the 4th quarter worth approximately $43,000. Finally, Principal Securities Inc. purchased a new stake in Astera Labs in the 4th quarter worth approximately $55,000. 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.