Astera Labs (NASDAQ:ALAB) Shares Gap Down – Here’s What Happened

Astera Labs, Inc. (NASDAQ:ALAB) gapped down prior to trading on Monday . The stock had previously closed at $101.42, but opened at $88.90. Astera Labs shares last traded at $95.21, with a volume of 1,628,537 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ALAB shares. Craig Hallum boosted 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. Morgan Stanley dropped their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Citigroup began coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Finally, Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $107.42.

Astera Labs Stock Up 3.7 %

The stock has a fifty day moving average price of $122.20 and a 200-day moving average price of $81.03.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. As a group, sell-side analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the transaction, the director now directly owns 6,148 shares of the company’s stock, valued at $556,455.48. This represents a 96.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Manuel Alba sold 12,000 shares of Astera Labs stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $94.74, for a total value of $1,136,880.00. Following the sale, the director now owns 483,863 shares of the company’s stock, valued at approximately $45,841,180.62. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,640,452 shares of company stock worth $163,096,256.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management acquired a new position in Astera Labs during the third quarter worth $26,000. Kestra Investment Management LLC acquired a new position in shares of Astera Labs during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs in the 4th quarter valued at approximately $36,000. Global Retirement Partners LLC lifted its holdings in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in Astera Labs during the fourth quarter worth approximately $42,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Company Profile

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.