Insider Selling: Astera Labs, Inc. (NASDAQ:ALAB) CFO Sells $2,399,000.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) 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) 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. acquired a new position in shares of Astera Labs during the 1st quarter valued at about $952,000. Vanguard Group Inc. acquired a new position in shares of Astera Labs during the 1st quarter valued at about $127,268,000. Forge First Asset Management Inc. acquired a new position in shares of Astera Labs during the 1st quarter valued at about $1,143,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs during the 1st quarter valued at about $44,514,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Astera Labs during the 1st quarter valued at about $18,666,000.

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.

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.