Astera Labs (NASDAQ:ALAB) Stock Price Down 8.3% – Here’s Why

Astera Labs, Inc. (NASDAQ:ALAB)’s share price fell 8.3% during mid-day trading on Tuesday . The stock traded as low as $80.51 and last traded at $77.59. 571,876 shares changed hands during trading, a decline of 89% from the average session volume of 5,340,729 shares. The stock had previously closed at $84.63.

Analyst Ratings Changes

A number of research firms have weighed in on ALAB. Barclays upped their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Morgan Stanley lowered their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, 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 research report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $115.33.

Astera Labs Trading Down 8.8 %

The company has a fifty day simple moving average of $115.81 and a 200-day simple moving average of $85.79. The stock has a market cap of $12.52 billion and a price-to-earnings ratio of -44.91.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the transaction, the general counsel now directly owns 241,209 shares in the company, valued at approximately $22,208,112.63. This represents a 3.03 % 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 350,680 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 702,190 shares of company stock valued at $66,714,568 over the last three months.

Institutional Investors Weigh In On Astera Labs

Institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after acquiring an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Astera Labs during the third quarter worth about $530,000. Avior Wealth Management LLC acquired a new stake in Astera Labs during the third quarter valued at approximately $361,000. Maverick Capital Ltd. grew its stake in shares of Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the period. Finally, Bank of Hawaii bought a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $1,409,000. Institutional investors own 60.47% of the company’s stock.

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.