Astera Labs (NASDAQ:ALAB) Trading Down 7.7% – What’s Next?

Astera Labs, Inc. (NASDAQ:ALAB) traded down 7.7% on Monday . The stock traded as low as $54.92 and last traded at $54.43. 247,371 shares were traded during trading, a decline of 93% from the average session volume of 3,790,262 shares. The stock had previously closed at $58.96.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Raymond James began coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 price target on the stock. Stifel Nicolaus dropped their price objective on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $109.25.

Astera Labs Price Performance

The company has a 50-day moving average price of $67.92 and a two-hundred day moving average price of $91.18. The company has a market cap of $8.97 billion and a PE ratio of -31.97.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the transaction, the director now owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This trade represents a 2.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock worth $54,235,012 in the last ninety days.

Institutional Trading of Astera Labs

Several institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs during the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC grew its stake in Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after buying an additional 284 shares during the last quarter. Institutional investors own 60.47% of the company’s stock.

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.