Astera Labs (NASDAQ:ALAB) Shares Down 3% on Insider Selling

Astera Labs, Inc. (NASDAQ:ALAB) fell 3% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $102.16 and last traded at $102.31. 281,707 shares were traded during trading, a decline of 91% from the average session volume of 3,161,878 shares. The stock had previously closed at $105.48.

Specifically, Director Stefan A. Dyckerhoff sold 7,814 shares of Astera Labs stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total value of $837,426.38. Following the sale, the director now owns 121,803 shares of the company’s stock, valued at approximately $13,053,627.51. The trade was a 6.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 30,000 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $105.90, for a total value of $3,177,000.00. Following the completion of the sale, the director now owns 3,765 shares in the company, valued at approximately $398,713.50. The trade was a 88.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other 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 completion of the transaction, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALAB. Evercore ISI lowered their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Craig Hallum boosted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm raised their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average target price of $94.67.

Astera Labs Stock Performance

The company has a 50 day moving average of $72.05 and a 200-day moving average of $60.30.

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. 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 for the quarter, compared to analysts’ expectations of $97.50 million. The business’s revenue was up 47.1% on a year-over-year basis. On average, equities analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

Hedge funds have recently bought and sold shares of the stock. Avior Wealth Management LLC purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $361,000. Meeder Asset Management Inc. purchased a new stake in Astera Labs during the third quarter valued at about $1,141,000. Bank of Hawaii bought a new stake in Astera Labs during the third quarter worth about $1,409,000. Vanguard Group Inc. purchased a new position in shares of Astera Labs in the 1st quarter worth about $127,268,000. Finally, Rakuten Securities Inc. bought a new position in shares of Astera Labs during the 3rd quarter valued at about $291,000.

About Astera Labs

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.