Astera Labs (NASDAQ:ALAB) Shares Gap Down – Should You Sell?

Astera Labs, Inc. (NASDAQ:ALAB) shares gapped down before the market opened on Tuesday . The stock had previously closed at $133.30, but opened at $128.50. Astera Labs shares last traded at $121.89, with a volume of 863,679 shares changing hands.

Analyst Upgrades and Downgrades

ALAB has been the subject of several research analyst reports. Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Roth Mkm increased their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley cut Astera Labs from an “overweight” rating to an “equal weight” rating and set a $142.00 price objective on the stock. in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $109.75.

Astera Labs Stock Performance

The firm’s 50 day moving average price is $120.38 and its 200-day moving average price is $77.29.

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

Insider Buying and Selling

In other news, CFO Michael Truett Tate sold 16,000 shares of the firm’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 value of $1,885,440.00. Following the transaction, the chief financial officer now owns 1,412,888 shares in the company, valued at $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the sale, the general counsel now owns 248,745 shares of the company’s stock, valued at $22,588,533.45. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock worth $167,581,256 in the last 90 days.

Institutional Trading of Astera Labs

A number of hedge funds have recently bought and sold shares of ALAB. Rhumbline Advisers acquired a new stake in shares of Astera Labs in the second quarter valued at approximately $1,009,000. Renaissance Technologies LLC purchased a new stake in shares of Astera Labs during the 2nd quarter valued at approximately $1,337,000. Amalgamated Bank acquired a new stake in Astera Labs during the second quarter worth $74,000. Hsbc Holdings PLC purchased a new stake in Astera Labs in the second quarter valued at $2,990,000. Finally, Magnetar Financial LLC purchased a new position in shares of Astera Labs during the 2nd quarter worth $1,229,000. Institutional investors and hedge funds 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.