Astera Labs, Inc. (NASDAQ:ALAB) CEO Jitendra Mohan Sells 350,680 Shares

by · The Markets Daily

Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Jitendra Mohan also recently made the following trade(s):

  • On Monday, November 25th, Jitendra Mohan sold 173,366 shares of Astera Labs stock. The stock was sold at an average price of $110.12, for a total transaction of $19,091,063.92.

Astera Labs Stock Down 3.1 %

NASDAQ:ALAB traded down $2.71 on Friday, hitting $85.72. The stock had a trading volume of 3,957,888 shares, compared to its average volume of 5,461,614. The stock has a market cap of $13.90 billion and a price-to-earnings ratio of -49.55. The company has a fifty day moving average price of $117.65 and a two-hundred day moving average price of $84.55. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB – Get Free Report) last posted 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 net margin of 21.05% and a negative return on equity of 10.40%. As a group, analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus boosted their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays boosted their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $115.33.

Check Out Our Latest Report on Astera Labs

Hedge Funds Weigh In On Astera Labs

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC lifted its holdings in shares of Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after acquiring an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astera Labs in the 3rd quarter valued at approximately $530,000. Avior Wealth Management LLC acquired a new stake in Astera Labs in the 3rd quarter valued at approximately $361,000. Maverick Capital Ltd. increased its holdings in Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Finally, Bank of Hawaii acquired a new stake in shares of Astera Labs in the third quarter valued at $1,409,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

About Astera Labs

(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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