Astera Labs (NASDAQ:ALAB) Trading Down 5.2% – Should You Sell?

Astera Labs, Inc. (NASDAQ:ALAB) shares traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $68.06 and last traded at $68.44. 572,943 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 3,659,110 shares. The stock had previously closed at $72.19.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Craig Hallum lifted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Barclays increased their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $112.77.

Astera Labs Stock Down 6.2 %

The business has a fifty day moving average of $86.45 and a 200 day moving average of $89.68. The company has a market cap of $10.18 billion and a P/E ratio of -36.29.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the transaction, the director now directly owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock worth $50,242,702 over the last three months.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs in the 4th quarter worth approximately $25,000. Steward Partners Investment Advisory LLC boosted its holdings in Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Astera Labs in the fourth quarter worth $28,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC raised its position in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing 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.