Astera Labs (NASDAQ:ALAB) Director Sells $1,901,421.54 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Stefan Dyckerhoff sold 8,994 shares of the firm’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $211.41, for a total value of $1,901,421.54. Following the completion of the sale, the director owned 1,987 shares in the company, valued at approximately $420,071.67. This represents a 81.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB traded up $26.16 on Monday, hitting $216.87. 7,077,873 shares of the company’s stock were exchanged, compared to its average volume of 5,162,014. The firm’s 50-day moving average is $300.46 and its 200 day moving average is $255.80. The company has a market capitalization of $37.90 billion, a PE ratio of 86.40 and a beta of 3.86. Astera Labs, Inc. has a 1-year low of $97.89 and a 1-year high of $499.48.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, November 3rd. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.13. Astera Labs had a return on equity of 25.35% and a net margin of 29.64%. The business had revenue of $584.90 million for the quarter, compared to analyst estimates of $550.78 million. During the same quarter last year, the company earned $0.49 EPS. The business’s quarterly revenue was up 153.6% on a year-over-year basis. On average, analysts anticipate that Astera Labs, Inc. will post 2.71 EPS for the current fiscal year.

Institutional Trading of Astera Labs

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Astera Labs during the second quarter worth $6,609,581,000. Bank of America Corp DE purchased a new stake in shares of Astera Labs in the second quarter valued at $1,061,791,000. Atreides Management LP increased its stake in Astera Labs by 108.9% in the first quarter. Atreides Management LP now owns 3,365,787 shares of the company’s stock valued at $368,890,000 after purchasing an additional 1,754,593 shares during the last quarter. Amundi increased its stake in Astera Labs by 77.9% in the first quarter. Amundi now owns 1,880,830 shares of the company’s stock valued at $206,139,000 after purchasing an additional 823,477 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in Astera Labs during the second quarter worth about $325,602,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ALAB shares. Susquehanna dropped their price target on shares of Astera Labs from $310.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 4th. Zacks Research downgraded shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Barclays upped their target price on shares of Astera Labs from $200.00 to $325.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Roth Capital restated a “buy” rating and issued a $450.00 target price on shares of Astera Labs in a report on Wednesday, August 5th. Finally, Jefferies Financial Group increased their target price on shares of Astera Labs from $270.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Thirteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $320.85.

Astera Labs Company Profile

Astera Labs, Inc is a fabless semiconductor company that develops connectivity solutions for cloud and artificial intelligence infrastructure. Its products are designed to help move data among processors, accelerators, memory and other components in high-performance computing systems.

The company’s portfolio includes Aries PCIe and CXL retimers, Taurus Ethernet smart cable modules, Scorpio fabric switches and Leo CXL memory connectivity controllers. Astera Labs also offers software tools to help customers configure and monitor its connectivity products.

Founded in 2017 and headquartered in Santa Clara, California, Astera Labs serves the global cloud and computing markets.