Astera Labs (NASDAQ:ALAB) Trading Down 7.4% – Should You Sell?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price dropped 7.4% during trading on Thursday . The company traded as low as $114.23 and last traded at $113.86. Approximately 1,524,183 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 3,375,086 shares. The stock had previously closed at $122.95.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Stifel Nicolaus increased their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Northland Capmk cut Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Roth Mkm increased their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Astera Labs Trading Down 2.5 %

The company has a 50-day simple moving average of $121.72 and a two-hundred day simple moving average of $78.06.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million for 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 firm’s revenue was up 47.1% on a year-over-year basis. On average, equities research analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the sale, the insider now directly owns 775,000 shares in the company, valued at approximately $74,857,250. The trade was a 48.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. This trade represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock valued at $167,581,256 over the last quarter.

Institutional Trading of Astera Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in Astera Labs in the 3rd quarter worth approximately $26,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs in the fourth quarter worth $36,000. ORG Wealth Partners LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at $42,000. US Bancorp DE bought a new position in Astera Labs in the 3rd quarter worth $46,000. Finally, First Horizon Advisors Inc. purchased a new stake in Astera Labs in the 3rd quarter worth $49,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

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.