Astera Labs, Inc. (NASDAQ:ALAB) COO Sells $7,514,339.47 in Stock

Astera Labs, Inc. (NASDAQ:ALABGet Free Report) COO Sanjay Gajendra sold 76,373 shares of Astera Labs stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $98.39, for a total value of $7,514,339.47. Following the completion of the transaction, the chief operating officer now owns 715,000 shares of the company’s stock, valued at $70,348,850. The trade was a 9.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Sanjay Gajendra also recently made the following trade(s):

  • On Wednesday, June 4th, Sanjay Gajendra sold 88,627 shares of Astera Labs stock. The stock was sold at an average price of $98.11, for a total transaction of $8,695,194.97.
  • On Tuesday, May 27th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The shares were sold at an average price of $98.25, for a total value of $16,211,250.00.
  • On Friday, May 16th, Sanjay Gajendra sold 91,337 shares of Astera Labs stock. The shares were sold at an average price of $90.67, for a total transaction of $8,281,525.79.
  • On Thursday, May 8th, Sanjay Gajendra sold 165,000 shares of Astera Labs stock. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00.

Astera Labs Stock Performance

ALAB stock opened at $89.63 on Thursday. The firm has a market cap of $14.78 billion, a P/E ratio of 407.43, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39. The stock has a 50-day simple moving average of $83.33 and a 200-day simple moving average of $91.41. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

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

Institutional Investors Weigh In On Astera Labs

A number of institutional investors have recently modified their holdings of ALAB. Vanguard Group Inc. grew its position in shares of Astera Labs by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 9,297,476 shares of the company’s stock valued at $554,780,000 after buying an additional 85,846 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Astera Labs by 114.2% during the first quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock valued at $501,289,000 after buying an additional 4,478,741 shares in the last quarter. Atreides Management LP grew its stake in shares of Astera Labs by 153.3% in the 1st quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock worth $277,601,000 after purchasing an additional 2,815,614 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after acquiring an additional 792,153 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Astera Labs by 318.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after acquiring an additional 1,384,498 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analysts Set New Price Targets

ALAB has been the topic of several recent research reports. Barclays boosted their price target on Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Needham & Company LLC decreased their price objective on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Susquehanna assumed 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. William Blair assumed coverage on shares of Astera Labs in a research note on Thursday, May 22nd. They set an “outperform” rating for the company. Finally, Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a “buy” rating in a research note on Wednesday, May 7th. One equities 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $100.00.

View Our Latest Analysis on ALAB

Astera Labs Company Profile

(Get Free Report)

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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