Astera Labs (NASDAQ:ALAB) Trading Down 0.7% – Time to Sell?

Astera Labs, Inc. (NASDAQ:ALAB) shares fell 0.7% during mid-day trading on Thursday . The company traded as low as $119.02 and last traded at $121.64. 1,651,053 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 3,265,406 shares. The stock had previously closed at $122.47.

Analysts Set New Price Targets

A number of analysts have commented on ALAB shares. Needham & Company LLC restated a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Barclays boosted their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm boosted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Craig Hallum lifted their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $94.67.

Astera Labs Stock Up 1.3 %

The stock has a fifty day moving average price of $92.92 and a 200-day moving average price of $65.51.

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

Insiders Place Their Bets

In related news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction on Friday, September 20th. The shares were sold at an average price of $50.00, for a total value of $3,150,000.00. Following the transaction, the director now owns 506,863 shares in the company, valued at $25,343,150. This trade represents a 11.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jitendra Mohan sold 47,667 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the transaction, the chief executive officer now directly owns 728,420 shares in the company, valued at $51,178,789.20. This trade represents a 6.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,078,119 shares of company stock valued at $191,630,349 in the last three months.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALAB. Bank of New York Mellon Corp bought a new position in Astera Labs in the second quarter valued at approximately $8,361,000. Legato Capital Management LLC bought a new position in shares of Astera Labs during the second quarter worth $207,000. Strategic Blueprint LLC bought a new stake in shares of Astera Labs in the 2nd quarter valued at $332,000. Essex Financial Services Inc. bought a new stake in shares of Astera Labs in the 2nd quarter valued at $1,304,000. Finally, Lisanti Capital Growth LLC acquired a new stake in Astera Labs during the 2nd quarter worth $1,822,000. 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.