Astera Labs, Inc. (NASDAQ:ALAB) Director Sells $230,200.00 in Stock

Astera Labs, Inc. (NASDAQ:ALAB) Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now directly owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Astera Labs Price Performance

Shares of ALAB stock opened at $85.72 on Friday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock’s 50-day moving average is $116.72 and its two-hundred day moving average is $85.13. The firm has a market cap of $13.90 billion and a P/E ratio of -49.55.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on ALAB. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday, January 28th. Stifel Nicolaus upped their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Craig Hallum increased their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $115.33.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Warm Springs Advisors Inc. acquired a new position in Astera Labs in the 4th quarter worth about $3,311,000. GF Fund Management CO. LTD. acquired a new position in Astera Labs in the 4th quarter worth about $265,000. Public Employees Retirement System of Ohio increased its position in Astera Labs by 364.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 37,145 shares of the company’s stock worth $4,920,000 after purchasing an additional 29,145 shares during the last quarter. Pacific Point Advisors LLC acquired a new position in Astera Labs in the 4th quarter worth about $530,000. Finally, Castleark Management LLC acquired a new position in shares of Astera Labs during the 4th quarter valued at about $364,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Company Profile

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.