Astera Labs (NASDAQ:ALAB) Trading Down 3.9% – Time to Sell?

Shares of Astera Labs, Inc. (NASDAQ:ALAB) fell 3.9% on Thursday . The company traded as low as $123.60 and last traded at $126.60. 1,817,632 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 3,066,135 shares. The stock had previously closed at $131.77.

Analysts Set New Price Targets

A number of research firms have weighed in on ALAB. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Northland Securities cut Astera Labs from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $100.00 to $120.00 in a research report on Thursday, January 2nd. Citigroup initiated coverage on Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Finally, Barclays upped their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Astera Labs currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Astera Labs Stock Performance

The firm has a 50-day moving average of $118.88 and a 200-day moving average of $76.01.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’s quarterly revenue was up 47.1% compared to the same quarter last year. As a group, analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock worth $167,581,256 in the last quarter.

Institutional Trading of Astera Labs

A number of hedge funds have recently modified their holdings of ALAB. Tidal Investments LLC boosted its position in Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Astera Labs in the 3rd quarter worth $530,000. Avior Wealth Management LLC purchased a new stake in Astera Labs in the 3rd quarter worth $361,000. Maverick Capital Ltd. increased its holdings in Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, State Street Corp increased its holdings in Astera Labs by 173.1% in the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after acquiring an additional 442,698 shares in the last quarter. Hedge funds and other 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.