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

Astera Labs, Inc. (NASDAQ:ALAB) shares gapped down before the market opened on Monday . The stock had previously closed at $101.42, but opened at $88.90. Astera Labs shares last traded at $95.21, with a volume of 1,628,537 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALAB. Roth Mkm increased their price target on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Barclays raised their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Astera Labs has an average rating of “Buy” and a consensus target price of $107.42.

Astera Labs Price Performance

The company has a 50-day moving average price of $122.46 and a two-hundred day moving average price of $80.36.

Astera Labs (NASDAQ:ALAB) last announced its quarterly 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%. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the sale, the insider now owns 775,000 shares of the company’s stock, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total value of $4,485,000.00. Following the sale, the director now directly owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. This trade represents a 27.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,690,452 shares of company stock valued at $167,581,256.

Institutional Investors Weigh In On Astera Labs

Hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in Astera Labs during the third quarter worth about $26,000. Kestra Investment Management LLC bought a new stake in Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. bought a new stake in Astera Labs during the fourth quarter worth about $36,000. Global Retirement Partners LLC lifted its stake in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after acquiring an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Astera Labs in the 4th quarter valued at about $42,000. 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.