Astera Labs (NASDAQ:ALAB) Stock Price Down 7.7% – Should You Sell?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price was down 7.7% during trading on Monday . The stock traded as low as $54.92 and last traded at $54.43. Approximately 247,371 shares changed hands during trading, a decline of 93% from the average daily volume of 3,790,262 shares. The stock had previously closed at $58.96.

Analyst Ratings Changes

Several research firms have issued reports on ALAB. Stifel Nicolaus lowered their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays increased their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Craig Hallum boosted their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Citigroup lowered their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Astera Labs 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 issued a strong buy rating to the stock. According to MarketBeat.com, Astera Labs has a consensus rating of “Buy” and an average price target of $109.25.

Astera Labs Price Performance

The stock has a market capitalization of $8.77 billion and a PE ratio of -31.27. The company has a 50 day moving average price of $69.23 and a 200-day moving average price of $91.42.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 50,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the sale, the general counsel now owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock worth $54,235,012 over the last ninety days.

Hedge Funds Weigh In On Astera Labs

Large investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the 4th quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the 4th quarter worth about $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs in the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC grew its position in Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by hedge funds and other 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.