Jitendra Mohan Sells 52,743 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan sold 52,743 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.86, for a total transaction of $5,319,658.98. Following the transaction, the chief executive officer now owns 512,218 shares in the company, valued at $51,662,307.48. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, June 17th, Jitendra Mohan sold 106,510 shares of Astera Labs stock. The shares were sold at an average price of $94.54, for a total value 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 value of $1,420,000.00.
• On Monday, May 19th, Jitendra Mohan sold 128,250 shares of Astera Labs stock. The shares were sold at an average price of $90.02, for a total value 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 value of $8,281,525.79.
• On Wednesday, May 14th, Jitendra Mohan sold 75,000 shares of Astera Labs stock. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00.
• 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.

Astera Labs Stock Performance

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

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data 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 net margin of 8.44% and a return on equity of 2.57%. The firm had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the previous year, the business posted $0.10 EPS. Astera Labs’s revenue was up 144.1% on a year-over-year basis. As a group, equities analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ALAB shares. 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 decreased their price target on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Needham & Company LLC dropped their price objective 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. Wall Street Zen upgraded Astera Labs from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Finally, William Blair began coverage on Astera Labs in a report on Thursday, May 22nd. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $100.00.

Hedge Funds Weigh In On Astera Labs

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers lifted its holdings in shares of Astera Labs by 4.4% during the 1st quarter. Rhumbline Advisers now owns 104,345 shares of the company’s stock valued at $6,226,000 after purchasing an additional 4,396 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Astera Labs by 1,382.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,033 shares of the company’s stock worth $241,000 after buying an additional 3,761 shares during the last quarter. Focus Partners Wealth increased its position in Astera Labs by 0.8% during the 1st quarter. Focus Partners Wealth now owns 432,806 shares of the company’s stock valued at $25,826,000 after buying an additional 3,464 shares in the last quarter. Optimize Financial Inc purchased a new stake in Astera Labs in the first quarter valued at about $1,718,000. Finally, Empowered Funds LLC boosted its holdings in Astera Labs by 917.3% in the first quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock worth $277,000 after acquiring an additional 4,183 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

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.