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

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company 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 upped their price objective for the stock from $100.00 to $120.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. lifted their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Roth Mkm upped their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup initiated coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $109.75.

Astera Labs Trading Down 23.5 %

The stock’s fifty day simple moving average is $123.01 and its two-hundred day simple moving average is $79.09.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $113.10 million for 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 revenue for the quarter was up 47.1% compared to the same quarter last year. Sell-side analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity at Astera Labs

In related news, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the transaction, the chief financial officer now directly owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 628,895 shares of the company’s stock, valued at $65,109,499.35. The trade was a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors have recently modified their holdings of ALAB. Geneos Wealth Management Inc. bought a new stake in Astera Labs in the fourth quarter valued at approximately $36,000. ORG Wealth Partners LLC acquired a new stake in Astera Labs in the 4th quarter valued at $42,000. Hollencrest Capital Management acquired a new position in Astera Labs during the third quarter valued at approximately $26,000. GAMMA Investing LLC raised its holdings in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares during the period. Finally, Berbice Capital Management LLC acquired a new position in shares of Astera Labs in the fourth quarter valued at $86,000. 60.47% of the stock is owned by 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.