Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the transaction, the insider now directly owns 855,000 shares of the company's stock, valued at $38,748,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Astera Labs Trading Up 1.5 %
Astera Labs stock opened at $47.13 on Friday. The business's 50 day moving average is $44.35. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $95.21.
Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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. Astera Labs's revenue was up 17.8% on a year-over-year basis. Sell-side analysts expect that Astera Labs, Inc. will post -0.54 EPS for the current year.
Hedge Funds Weigh In On Astera Labs
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Several institutional investors and hedge funds have recently made changes to their positions in the business. Amalgamated Bank bought a new stake in shares of Astera Labs in the second quarter worth $74,000. Massachusetts Financial Services Co. MA grew its stake in Astera Labs by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company's stock worth $5,531,000 after purchasing an additional 2,343 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Astera Labs by 11,920.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company's stock valued at $182,000 after buying an additional 2,980 shares during the last quarter. Legato Capital Management LLC acquired a new stake in Astera Labs during the second quarter valued at approximately $207,000. Finally, Alpine Global Management LLC bought a new position in Astera Labs during the 1st quarter worth approximately $272,000.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $55.00 price objective for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price target on shares of Astera Labs from $95.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Astera Labs from $85.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Roth Mkm dropped their price target on Astera Labs from $85.00 to $60.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Finally, Craig Hallum dropped their price target on Astera Labs from $90.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $71.36.
Check Out Our Latest Research Report on Astera Labs
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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