Astera Labs (NASDAQ:ALAB) Shares Down 5.2% – Here’s Why

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

Analyst Ratings Changes

Several equities research analysts have commented on ALAB shares. Morgan Stanley lowered their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Craig Hallum raised their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Stifel Nicolaus upped their price objective 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. Finally, Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Astera Labs has an average rating of “Buy” and an average price target of $112.77.

Astera Labs Stock Down 6.5 %

The company has a 50-day moving average of $89.05 and a 200 day moving average of $90.03. The stock has a market capitalization of $10.94 billion and a PE ratio of -39.18.

Astera Labs (NASDAQ:ALAB) last posted 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 return on equity of 10.40% and a negative net margin of 21.05%. As a group, equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock worth $50,242,702 in the last ninety days.

Institutional Trading of Astera Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC grew its position in Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after acquiring an additional 20,388 shares during the period. Proficio Capital Partners LLC lifted its stake in shares of Astera Labs by 1.8% in the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock valued at $2,864,000 after purchasing an additional 390 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Astera Labs during the 3rd quarter worth $530,000. Maverick Capital Ltd. increased its position in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Finally, State Street Corp increased its position in shares of Astera Labs by 173.1% during the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after purchasing an additional 442,698 shares during the last quarter. 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.