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

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $115.55, but opened at $102.24. Astera Labs shares last traded at $95.89, with a volume of 3,430,430 shares trading hands.

Analysts Set New Price Targets

Several brokerages have commented on ALAB. Roth Mkm boosted their target price on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Citigroup assumed coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus raised their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Craig Hallum boosted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Three research 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.com, Astera Labs presently has a consensus rating of “Moderate Buy” and an average target price of $109.75.

Astera Labs Stock Down 23.5 %

The business has a fifty day moving average price of $123.01 and a 200-day moving average price of $79.09.

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

Insider Transactions at Astera Labs

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This trade represents a 27.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at $65,109,499.35. This represents a 21.38 % 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 valued at $167,581,256.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ALAB. Strategic Blueprint LLC lifted its holdings in Astera Labs by 3.6% in the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after purchasing an additional 195 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after buying an additional 224 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the fourth quarter worth $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after acquiring an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in Astera Labs in the 4th quarter worth $42,000. 60.47% of the stock is owned by hedge funds and other 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.