Alba Manuel, a director at Astera Labs, Inc. (NASDAQ:ALAB), has sold shares worth approximately $1.29 million, according to a recent filing with the Securities and Exchange Commission. The transactions took place on December 4, 2024, involving several sales of common stock. The semiconductor company, currently valued at $18.19 billion, has shown impressive momentum with an 84.88% return year-to-date, according to InvestingPro data.
The shares were sold at prices ranging from $115.53 to $121.05 per share, near the stock's 52-week high of $121.20. These sales were executed automatically under a pre-established Rule 10b5-1 trading plan. Following these transactions, Alba Manuel retains ownership of 2,064,498 shares through the Alba Trust, with additional shares held indirectly.
Astera Labs, a company operating in the semiconductor sector, is based in Santa Clara, California. The company maintains strong financial health with a current ratio of 10.74 and impressive gross profit margins of 77.62%. The sales were conducted under the name of entities such as Casa Alameda 2007, LLC, and the Alba Trust, highlighting the director's indirect ownership of the shares. For detailed analysis and additional insights, check out the comprehensive research report available on InvestingPro.
In other recent news, Astera Labs has been the focus of several financial firms due to its impressive financial performance and growth prospects. The company reported a significant increase in third-quarter earnings and revenue, exceeding market expectations with earnings per share of $0.23 and a revenue of $113.1 million, marking a 206% YoY increase and a 47% sequential rise. Astera Labs also provided an optimistic outlook for the fourth quarter, projecting a revenue between $126 million and $130 million, and a non-GAAP EPS of $0.25 to $0.26.
Various firms including Evercore ISI, Citi, Craig-Hallum, Roth/MKM, and Stifel have maintained positive ratings on Astera Labs, with several of them revising their price targets upwards. These revisions are a testament to their confidence in the company's solid market position and financial health.
Astera Labs has also made notable strides in product development and strategic partnerships. The company's Scorpio PCIe switch and Aries retimer programs are expanding its product line and customer base. Additionally, Astera Labs has joined the Board of Directors of the Ultra Accelerator Link Consortium, indicating the company's ongoing growth and expansion in the AI platform market. These are all recent developments, reflecting Astera Labs' proactive approach to seizing market opportunities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.