Astera Labs (NASDAQ:ALAB) Stock Price Down 7.4% – What’s Next?

Shares of Astera Labs, Inc. (NASDAQ:ALAB) dropped 7.4% on Thursday . The stock traded as low as $114.23 and last traded at $113.86. Approximately 1,524,183 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 3,375,086 shares. The stock had previously closed at $122.95.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ALAB shares. Deutsche Bank Aktiengesellschaft boosted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Northland Securities downgraded shares of Astera Labs from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $100.00 to $120.00 in a research note on Thursday, January 2nd. Finally, Roth Mkm increased their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Astera Labs Trading Down 2.5 %

The stock’s fifty day moving average is $121.72 and its two-hundred day moving average is $78.06.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Activity

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares in the company, valued at approximately $11,626,644.90. This trade represents a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Manuel Alba sold 12,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $94.74, for a total value of $1,136,880.00. Following the transaction, the director now directly owns 483,863 shares of the company’s stock, valued at approximately $45,841,180.62. This represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently made changes to their positions in ALAB. Fred Alger Management LLC lifted its stake in Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Astera Labs during the third quarter worth about $52,049,000. The Manufacturers Life Insurance Company grew its position in Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after purchasing an additional 873,412 shares in the last quarter. Spyglass Capital Management LLC bought a new stake in Astera Labs in the 3rd quarter worth about $38,565,000. Finally, State Street Corp increased its stake in Astera Labs by 173.1% in the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock valued at $36,593,000 after buying an additional 442,698 shares during the last quarter. 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.