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

Shares of Astera Labs, Inc. (NASDAQ:ALAB) gapped down prior to trading on Tuesday . The stock had previously closed at $133.30, but opened at $128.50. Astera Labs shares last traded at $121.89, with a volume of 863,679 shares trading hands.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several analyst reports. Barclays increased their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday. Craig Hallum upped their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm raised their price target on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Northland Capmk cut shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Astera Labs Stock Down 7.4 %

The firm’s 50-day moving average is $120.38 and its 200 day moving average is $77.29.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data 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. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the sale, the insider now owns 775,000 shares in the company, valued at $74,857,250. The trade was a 48.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Hedge Funds Weigh In On Astera Labs

Large investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in Astera Labs during the 3rd quarter worth approximately $26,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs in the fourth quarter worth $36,000. ORG Wealth Partners LLC purchased a new position in shares of Astera Labs in the 4th quarter valued at $42,000. US Bancorp DE acquired a new position in shares of Astera Labs during the 3rd quarter valued at $46,000. Finally, First Horizon Advisors Inc. purchased a new stake in Astera Labs during the 3rd quarter worth $49,000. 60.47% of the stock is currently 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.