Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff Sells 7,814 Shares of Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan A. Dyckerhoff sold 7,814 shares of Astera Labs stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total value of $837,426.38. Following the completion of the transaction, the director now owns 121,803 shares of the company’s stock, valued at approximately $13,053,627.51. The trade was a 6.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Astera Labs Stock Down 1.7 %

Shares of Astera Labs stock opened at $105.48 on Wednesday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $113.85. The business has a fifty day simple moving average of $72.05 and a 200 day simple moving average of $60.30.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue was up 47.1% on a year-over-year basis. As a group, equities research analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALAB has been the subject of several research reports. Morgan Stanley lifted their target price on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum lifted their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Citigroup initiated coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Finally, Evercore ISI lowered their target price 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. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $94.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC acquired a new position in Astera Labs in the third quarter valued at about $361,000. Sei Investments Co. acquired a new position in Astera Labs in the first quarter valued at about $952,000. Meeder Asset Management Inc. acquired a new position in Astera Labs in the third quarter valued at about $1,141,000. Bank of Hawaii acquired a new position in Astera Labs in the third quarter valued at about $1,409,000. Finally, Vanguard Group Inc. bought a new stake in shares of Astera Labs in the first quarter valued at about $127,268,000.

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.