Astera Labs (NASDAQ:ALAB) Shares Gap Down – Should You Sell?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price gapped down before the market opened 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALAB. JPMorgan Chase & Co. boosted their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Stifel Nicolaus raised their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Northland Securities lowered shares of Astera Labs from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $100.00 to $120.00 in a report on Thursday, January 2nd. Finally, Barclays raised their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.75.

Astera Labs Trading Up 0.6 %

The business has a 50-day moving average of $121.72 and a 200-day moving average of $78.06.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. Analysts predict 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, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. This trade represents a 21.38 % 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 Stefan A. Dyckerhoff sold 50,000 shares of the business’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 sale, the director now owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,690,452 shares of company stock valued at $167,581,256 in the last ninety days.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently bought and sold shares of ALAB. Fred Alger Management LLC grew its holdings in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in shares of Astera Labs in the 3rd quarter valued at about $52,049,000. The Manufacturers Life Insurance Company grew its stake in Astera Labs by 15,477.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after buying an additional 873,412 shares during the last quarter. Spyglass Capital Management LLC acquired a new position in Astera Labs during the third quarter worth approximately $38,565,000. Finally, State Street Corp lifted its stake in Astera Labs by 173.1% in the third 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. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.