MicroVision MOVIA lidar gains support on NVIDIA DRIVE AGX platform
Jack Lazar, a director at Astera Labs , Inc. (NASDAQ:ALAB), recently executed a series of stock sales, according to a Form 4 filing with the Securities and Exchange Commission. On February 18, Lazar sold a total of 5,000 shares of common stock, generating proceeds of approximately $458,450. The sales were carried out at prices ranging from $88.60 to $93.8366 per share. The transactions occurred as the company, now valued at $14.25 billion, has seen its stock surge over 125% in the past six months. According to InvestingPro analysis, the stock currently appears overvalued relative to its Fair Value.
These transactions were conducted under a Rule 10b5-1 trading plan, which Lazar adopted on May 22, 2024. Following these sales, Lazar retains ownership of 117,500 shares in the company. While not currently profitable, InvestingPro data indicates analysts expect Astera Labs to achieve profitability this year, with strong gross profit margins of 76%. Discover more insights and 12 additional ProTips for ALAB with an InvestingPro subscription.
In other recent news, Astera Labs has reported strong financial performance, achieving record revenue and earnings for the fourth quarter of 2024. The company posted earnings per share of $0.37 on revenue of $141.1 million, marking a significant year-over-year increase of 179%. Despite these robust results, the stock experienced a decline in aftermarket trading, reflecting investor concerns about future growth prospects. Astera Labs provided optimistic revenue guidance for the first quarter of 2025, projecting revenues to exceed previous estimates by 7-10%, with expectations of continued growth driven by their diverse product lines.
Analyst firms have maintained positive outlooks on Astera Labs. Jefferies reiterated a Buy rating with an $85 price target, noting a path to over $3.00 in earnings per share despite a recent stock pullback. Stifel also maintained a Buy rating, setting a price target of $150, citing the company’s impressive revenue growth and potential market opportunities. Needham echoed this sentiment, reaffirming a Buy rating with a $140 target, highlighting strong sales of Astera Labs’ product lines and anticipating continued growth from new technologies.
Astera Labs’ growth is supported by their expanding product portfolio and strategic partnerships, including collaborations with Nvidia (NASDAQ:NVDA), Amazon (NASDAQ:AMZN), and AMD (NASDAQ:AMD). The company is poised to capitalize on a $2.5 billion market opportunity over the next few years with their Scorpio PCIe switch solutions. These developments indicate a promising outlook for Astera Labs as they continue to innovate and expand their market presence.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.