Jack R. Lazar Sells 2,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB) Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the transaction, the director now owns 135,000 shares in the company, valued at $9,443,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Astera Labs Stock Up 5.0 %

Astera Labs stock opened at $65.59 on Thursday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $95.21. The business has a 50 day moving average price of $47.25 and a two-hundred day moving average price of $58.11.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to the consensus estimate of $72.41 million. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities research analysts forecast that Astera Labs, Inc. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Amalgamated Bank acquired a new stake in shares of Astera Labs in the 2nd quarter valued at $74,000. Newbridge Financial Services Group Inc. grew its stake in Astera Labs by 11,920.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after buying an additional 2,980 shares during the last quarter. Legato Capital Management LLC bought a new position in shares of Astera Labs in the second quarter valued at approximately $207,000. Alpine Global Management LLC acquired a new position in shares of Astera Labs in the 1st quarter worth approximately $272,000. Finally, Strategic Blueprint LLC bought a new stake in Astera Labs during the 2nd quarter worth approximately $332,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Evercore ISI lowered their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Roth Mkm dropped their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Barclays reduced their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $73.09.

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.