Astera Labs (NASDAQ:ALAB) Shares Down 1.4% – Here’s What Happened

Astera Labs, Inc. (NASDAQ:ALAB)’s share price traded down 1.4% during trading on Thursday. The company traded as low as $211.65 and last traded at $227.79. Approximately 3,364,644 shares changed hands during trading, a decline of 35% from the average daily volume of 5,145,822 shares. The stock had previously closed at $230.91.

Wall Street Analyst Weigh In

ALAB has been the topic of a number of recent research reports. Susquehanna lowered their target price on Astera Labs from $310.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, November 4th. Wall Street Zen upgraded Astera Labs from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Royal Bank Of Canada cut their price target on Astera Labs from $500.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, November 4th. Morgan Stanley upped their price target on shares of Astera Labs from $382.00 to $389.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. Finally, Jefferies Financial Group increased their price objective 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. Thirteen investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $320.85.

Astera Labs Price Performance

The business has a 50-day simple moving average of $296.41 and a 200 day simple moving average of $256.51. The firm has a market cap of $39.81 billion, a PE ratio of 90.75 and a beta of 3.85.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The firm had revenue of $584.90 million for the quarter, compared to analysts’ expectations of $550.78 million. Astera Labs had a return on equity of 25.35% and a net margin of 29.64%. The business’s quarterly revenue was up 153.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities analysts forecast that Astera Labs, Inc. will post 2.99 earnings per share for the current fiscal year.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 6,801 shares of the stock in a transaction on Monday, August 17th. The shares were 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 of the company’s stock, valued at $32,872,551. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stefan A. Dyckerhoff sold 8,994 shares of the stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $211.41, for a total transaction of $1,901,421.54. Following the completion of the sale, the director directly owned 1,987 shares of the company’s stock, valued at approximately $420,071.67. This trade represents a 81.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 408,558 shares of company stock worth $126,050,884 in the last 90 days. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Keating Financial Advisory Services Inc. bought a new position in Astera Labs in the 2nd quarter worth $25,000. GK Wealth Management LLC purchased a new stake in Astera Labs in the 3rd quarter worth $29,000. Archer Investment Corp bought a new stake in Astera Labs during the second quarter valued at about $30,000. Signature Equity Partners LLC raised its holdings in Astera Labs by 1,680.0% during the third quarter. Signature Equity Partners LLC now owns 89 shares of the company’s stock valued at $32,000 after acquiring an additional 84 shares during the period. Finally, Transamerica Financial Advisors LLC bought a new stake in Astera Labs during the second quarter valued at about $35,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

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 move data among processors, accelerators, memory and other components in high-performance computing systems. The company’s portfolio includes Aries PCIe and CXL retimers, Taurus Ethernet smart cable modules, Scorpio fabric switches and Leo CXL memory connectivity controllers. Astera Labs also offers software tools to help customers configure and monitor its connectivity products.