Gold prices edge up amid Fed rate cut hopes; US-Russia talks awaited
SANTA CLARA, CA—Astera Labs, Inc. (NASDAQ:ALAB), a semiconductor company with a market capitalization of $14.25 billion, Chief Executive Officer Mohan Jitendra has sold shares of the company’s common stock amounting to approximately $31.4 million, according to a recent regulatory filing. The transactions took place on February 19, 2025, and involved a series of sales at prices ranging from $87.83 to $92.35 per share, near the current trading price of $85.72.
The sales were executed to satisfy tax withholding obligations related to the vesting and settlement of restricted stock units previously granted to Jitendra. Following these transactions, Jitendra retains direct ownership of 2,353,655 shares of Astera Labs .
In addition to his direct holdings, Jitendra has indirect ownership through various trusts, including a living trust and estate planning trusts, totaling several million shares. The transactions were part of a pre-planned arrangement to cover tax liabilities and do not represent discretionary trades by the CEO.
Astera Labs, based in Santa Clara, California, is a prominent player in the semiconductor industry, focusing on developing connectivity solutions for data-centric systems.
In other recent news, Astera Labs reported strong financial results for the fourth quarter of 2024, achieving a record revenue of $141.1 million, which marks a 179% increase year-over-year. The company also provided guidance for the first quarter of 2025, expecting revenues between $151 million and $155 million, indicating continued growth. Stifel analysts maintained a Buy rating on Astera Labs with a $150 price target, noting the company’s exceptional year-over-year revenue growth of 242.2% and highlighting the company’s potential in the Scorpio PCIe switch solutions market. Needham also reiterated a Buy rating with a $140 price target, emphasizing the robust sales of Astera Labs’ Taurus and Aries product lines and the anticipated revenue contributions from the Scorpio product family. Jefferies maintained its Buy rating with an $85 price target, despite a pullback in stock price, and expressed optimism about the company’s earnings per share potential and growth opportunities with partners like Nvidia (NASDAQ:NVDA) and Amazon (NASDAQ:AMZN). These developments reflect analysts’ confidence in Astera Labs’ growth trajectory and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.