Astera Labs, Inc. (NASDAQ:ALAB) Director Bethany Mayer Sells 686 Shares

by · The Markets Daily

Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) Director Bethany Mayer sold 686 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $87.47, for a total value of $60,004.42. Following the completion of the transaction, the director now owns 6,238 shares of the company’s stock, valued at approximately $545,637.86. The trade was a 9.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Astera Labs Price Performance

Astera Labs stock opened at $97.96 on Friday. The stock has a market capitalization of $16.16 billion, a PE ratio of 445.29, a price-to-earnings-growth ratio of 4.21 and a beta of 1.39. The business has a 50 day simple moving average of $84.11 and a 200-day simple moving average of $91.25. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB – Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million for the quarter, compared to analysts’ expectations of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm’s revenue for the quarter was up 144.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. On average, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Trading of Astera Labs

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Astera Labs by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 9,297,476 shares of the company’s stock worth $554,780,000 after buying an additional 85,846 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Astera Labs by 114.2% in the first quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock valued at $501,289,000 after purchasing an additional 4,478,741 shares during the last quarter. Atreides Management LP raised its holdings in shares of Astera Labs by 153.3% during the 1st quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock worth $277,601,000 after acquiring an additional 2,815,614 shares during the period. JPMorgan Chase & Co. raised its stake in Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after purchasing an additional 792,153 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after acquiring an additional 1,384,498 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analyst Ratings Changes

ALAB has been the topic of several research reports. Morgan Stanley upgraded shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 price target on the stock in a report on Monday, May 12th. Barclays upped their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Evercore ISI raised their target price on shares of Astera Labs from $87.00 to $104.00 and gave the stock an “outperform” rating in a report on Wednesday, May 21st. Wall Street Zen raised shares of Astera Labs from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Finally, William Blair assumed coverage on Astera Labs in a research report on Thursday, May 22nd. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $100.00.

Read Our Latest Report on ALAB

Astera Labs Company Profile

(Get Free Report)

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.

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