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

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALAB shares. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. 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. Citigroup lowered their price objective on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Morgan Stanley lowered their price target 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. Finally, Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average target price of $109.25.

Astera Labs Stock Performance

The stock has a 50-day moving average price of $69.23 and a two-hundred day moving average price of $91.42. The stock has a market capitalization of $8.77 billion and a PE ratio of -31.27.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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%. As a group, equities analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In other news, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the transaction, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the firm’s stock in a transaction on 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 $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 633,990 shares of company stock worth $54,235,012.

Institutional Inflows and Outflows

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

Astera Labs Company Profile

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.