Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) CFO Michael Truett Tate sold 50,000 shares of Astera Labs stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $47.98, for a total value of $2,399,000.00. Following the transaction, the chief financial officer now directly owns 829,108 shares of the company’s stock, valued at approximately $39,780,601.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Astera Labs Price Performance
Shares of ALAB stock opened at $41.69 on Friday. The company has a 50-day moving average price of $47.49. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $95.21.
Astera Labs (NASDAQ:ALAB – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $76.90 million for the quarter, compared to analyst estimates of $72.41 million. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. On average, analysts expect that Astera Labs, Inc. will post -0.54 EPS for the current year.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Roth Mkm cut their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut their price target on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Barclays cut their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Evercore ISI cut their price target on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. cut their price target on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $71.36.
Get Our Latest Stock Report on Astera Labs
About Astera Labs
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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