Astera Labs (NASDAQ:ALAB) Stock Price Down 1.7% – Time to Sell?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price traded down 1.7% on Friday. The company traded as low as $342.20 and last traded at $350.33. 4,088,118 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 5,194,858 shares. The stock had previously closed at $356.42.

Analyst Ratings Changes

ALAB has been the subject of several research reports. Stifel Nicolaus upped their target price on Astera Labs from $260.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Jefferies Financial Group lifted their price target on shares of Astera Labs from $270.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Needham & Company LLC boosted their price objective on shares of Astera Labs from $260.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Citigroup reaffirmed a “buy” rating on shares of Astera Labs in a research note on Wednesday, July 29th. Finally, TD Cowen reduced their target price on shares of Astera Labs from $425.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $348.33.

Astera Labs Price Performance

The stock has a market cap of $60.78 billion, a PE ratio of 173.43 and a beta of 3.67. The business has a 50 day moving average price of $307.86 and a two-hundred day moving average price of $281.52.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, August 4th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.69 by $0.11. Astera Labs had a net margin of 30.74% and a return on equity of 19.24%. The company had revenue of $392.40 million for the quarter, compared to the consensus estimate of $360.85 million. During the same period in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 104.5% on a year-over-year basis. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. On average, sell-side analysts forecast that Astera Labs, Inc. will post 2.7 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In other news, COO Sanjay Gajendra sold 90,630 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $340.35, for a total transaction of $30,845,920.50. Following the completion of the sale, the chief operating officer directly owned 1,119,038 shares in the company, valued at approximately $380,864,583.30. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Philip Mazzara sold 6,801 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $340.50, for a total value of $2,315,740.50. Following the completion of the sale, the general counsel directly owned 96,542 shares in the company, valued at $32,872,551. The trade was a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 396,059 shares of company stock valued at $122,605,660. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Astera Labs

Hedge funds have recently made changes to their positions in the business. Greenleaf Trust increased its holdings in shares of Astera Labs by 1.8% during the second quarter. Greenleaf Trust now owns 2,000 shares of the company’s stock valued at $966,000 after acquiring an additional 36 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Astera Labs by 74.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 96 shares of the company’s stock worth $46,000 after purchasing an additional 41 shares in the last quarter. Glenmede Trust Co. NA grew its position in Astera Labs by 2.7% during the 1st quarter. Glenmede Trust Co. NA now owns 1,909 shares of the company’s stock valued at $209,000 after purchasing an additional 51 shares during the last quarter. Keating Financial Advisory Services Inc. purchased a new stake in Astera Labs during the 2nd quarter valued at about $25,000. Finally, Integrated Wealth Concepts LLC increased its stake in Astera Labs by 0.7% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 7,006 shares of the company’s stock valued at $3,384,000 after purchasing an additional 52 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

About Astera Labs

Astera Labs, Inc is a fabless semiconductor company that develops connectivity solutions for cloud and artificial intelligence infrastructure. Its products are designed to help data centers connect and manage processors, memory, storage, and networking components in high-performance computing systems.

The company’s portfolio includes Aries PCI Express and Compute Express Link (CXL) smart memory controllers, Scorpio PCIe switches, Taurus Ethernet fabric switches, and Leo CXL memory connectivity products.