Astera Labs (NASDAQ:ALAB) Trading Down 3.9% – Time to Sell?

Astera Labs, Inc. (NASDAQ:ALAB) shares traded down 3.9% during mid-day trading on Thursday . The company traded as low as $123.60 and last traded at $126.60. 1,817,632 shares were traded during mid-day trading, a decline of 41% from the average session volume of 3,066,135 shares. The stock had previously closed at $131.77.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Northland Capmk cut Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Barclays increased their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Astera Labs currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Astera Labs Trading Up 4.2 %

The stock has a 50-day moving average price of $118.88 and a 200-day moving average price of $76.01.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company’s revenue was up 47.1% compared to the same quarter last year. On average, sell-side analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In other news, 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 transaction of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at approximately $22,588,533.45. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 171,064 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now directly owns 628,895 shares in the company, valued at approximately $65,109,499.35. The trade was a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently added to or reduced their stakes in ALAB. Hollencrest Capital Management bought a new position in shares of Astera Labs during the third quarter valued at $26,000. ORG Wealth Partners LLC bought a new position in Astera Labs in the fourth quarter valued at about $42,000. US Bancorp DE bought a new position in Astera Labs in the third quarter valued at about $46,000. First Horizon Advisors Inc. bought a new position in Astera Labs in the third quarter valued at about $49,000. Finally, Allworth Financial LP lifted its holdings in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares during the period. 60.47% of the stock is owned by institutional investors.

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.