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Alba Manuel, a director at Astera Labs , Inc. (NASDAQ:ALAB), a $9 billion market cap semiconductor company with impressive 242% revenue growth in the last twelve months, has sold a significant portion of the company’s common stock, as reported in a recent SEC filing. According to InvestingPro analysis, the company currently appears undervalued based on its Fair Value estimate. On April 2 and 3, Manuel executed multiple transactions, selling a total of 104,302 shares. The sales, carried out through a pre-established trading plan, netted approximately $6.09 million. The shares were sold at prices ranging from $55.9538 to $65.14 per share. The timing is notable as the stock has recently declined, trading at $52.94, significantly below its 52-week high of $147.39.
These transactions were made under a Rule 10b5-1 trading plan that Manuel adopted in May 2024. The shares were sold indirectly through entities such as Casa Alameda 2007, LLC, and the Alba Trust, with Manuel disclaiming beneficial ownership except for his pecuniary interest.
Following these transactions, Manuel continues to hold a substantial number of shares in Astera Labs, with 444,863 shares owned through Casa Alameda 2007, LLC and 1,984,498 shares through the Alba Trust.
In other recent news, Astera Labs reported strong financial performance for the fourth quarter of 2024, surpassing Stifel’s revenue estimates by 10.2% and achieving a year-over-year revenue growth of 242.2%, reaching $396.3 million. The company also provided a promising forecast for the first quarter of 2025, with expected revenues to exceed Stifel’s estimates by 16.0%. Jefferies reiterated a Buy rating with an $85.00 price target, despite a recent stock pullback attributed to concerns over the sustainability of certain segments and softer gross margins. Raymond (NSE:RYMD) James initiated coverage with an Outperform rating and an $82.00 price target, highlighting Astera Labs’ strong positioning in the growing GenAI market. Astera Labs announced a partnership with NVIDIA (NASDAQ:NVDA), integrating its Scorpio Smart Fabric Switches with NVIDIA’s MGX platform to enhance AI server deployment. This collaboration is expected to improve AI infrastructure efficiency, as noted by industry analysts. Stifel maintained a Buy rating with a $150.00 price target, emphasizing Astera Labs’ diverse product segments and potential in the Scorpio PCIe switch market. These developments reflect a positive outlook for the company’s future growth and market position.
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