Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) Director Manuel Alba sold 12,000 shares of Astera Labs stock in a transaction on Friday, November 8th. The shares were sold at an average price of $94.74, for a total transaction of $1,136,880.00. Following the completion of the transaction, the director now owns 483,863 shares in the company, valued at approximately $45,841,180.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Manuel Alba also recently made the following trade(s):
- On Monday, September 23rd, Manuel Alba sold 37,000 shares of Astera Labs stock. The stock was sold at an average price of $50.32, for a total value of $1,861,840.00.
- On Friday, September 20th, Manuel Alba sold 63,000 shares of Astera Labs stock. The stock was sold at an average price of $50.00, for a total value of $3,150,000.00.
Astera Labs Stock Performance
ALAB stock opened at $90.75 on Wednesday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $100.09. The business has a fifty day simple moving average of $60.03 and a 200-day simple moving average of $58.84.
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Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million during the quarter, compared to analysts' expectations of $97.50 million. The company's revenue was up 47.1% compared to the same quarter last year. Research analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current year.
Wall Street Analysts Forecast Growth
ALAB has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. Barclays lifted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Morgan Stanley boosted their target price on Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $92.36.
Read Our Latest Report on ALAB
Hedge Funds Weigh In On Astera Labs
A number of hedge funds have recently made changes to their positions in ALAB. Vanguard Group Inc. acquired a new stake in Astera Labs in the 1st quarter valued at $127,268,000. Westfield Capital Management Co. LP purchased a new stake in shares of Astera Labs during the 3rd quarter valued at about $52,049,000. Price T Rowe Associates Inc. MD acquired a new position in Astera Labs during the 1st quarter worth approximately $44,514,000. Capital World Investors purchased a new position in Astera Labs in the 1st quarter worth approximately $44,514,000. Finally, Bamco Inc. NY acquired a new stake in Astera Labs in the first quarter valued at approximately $37,095,000.
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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