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

Astera Labs, Inc. (NASDAQ:ALAB) shares gapped down prior to trading on Thursday . The stock had previously closed at $68.57, but opened at $64.34. Astera Labs shares last traded at $65.11, with a volume of 788,125 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALAB. Morgan Stanley lowered their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Citigroup began coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Stifel Nicolaus upped their target price 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 Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Craig Hallum raised their price target on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $115.33.

Astera Labs Price Performance

The company has a market cap of $10.25 billion and a P/E ratio of -36.52. The stock has a 50-day moving average of $107.61 and a 200 day moving average of $87.09.

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

Insider Activity at Astera Labs

In related news, CFO Michael Truett Tate sold 34,474 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $3,174,021.18. Following the completion of the transaction, the chief financial officer now owns 244,242 shares in the company, valued at $22,487,360.94. This trade represents a 12.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now 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 570,990 shares of company stock valued at $50,242,702 over the last ninety days.

Institutional Investors Weigh In On Astera Labs

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Astera Labs during the 4th quarter valued at approximately $18,209,000. Ameriflex Group Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth $144,000. Warm Springs Advisors Inc. acquired a new position in Astera Labs in the fourth quarter valued at $3,311,000. GF Fund Management CO. LTD. bought a new stake in Astera Labs during the fourth quarter valued at $265,000. Finally, Public Employees Retirement System of Ohio grew its holdings in Astera Labs by 364.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 37,145 shares of the company’s stock worth $4,920,000 after acquiring an additional 29,145 shares during the period. Institutional investors and hedge funds 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.