Astera Labs (NASDAQ:ALAB) Trading Down 7.9% on Insider Selling

Astera Labs, Inc. (NASDAQ:ALAB) dropped 7.9% during trading on Monday following insider selling activity. The stock traded as low as $90.56 and last traded at $91.47. Approximately 2,768,253 shares were traded during trading, a decline of 8% from the average daily volume of 2,996,240 shares. The stock had previously closed at $99.30.

Specifically, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several research analyst reports. Craig Hallum lifted their target price on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm boosted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their target price on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Barclays boosted their price target on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley raised their price objective on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $92.36.

Astera Labs Trading Down 1.6 %

The firm’s 50-day moving average price is $60.03 and its two-hundred day moving average price is $58.84.

Astera Labs (NASDAQ:ALAB) last posted its 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 for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm’s revenue was up 47.1% compared to the same quarter last year. Analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALAB. Vanguard Group Inc. acquired a new position in shares of Astera Labs in the 1st quarter valued at $127,268,000. Westfield Capital Management Co. LP purchased a new stake in Astera Labs in the 3rd quarter valued at about $52,049,000. Price T Rowe Associates Inc. MD acquired a new position in Astera Labs in the first quarter valued at about $44,514,000. Capital World Investors purchased a new position in Astera Labs during the first quarter worth about $44,514,000. Finally, Bamco Inc. NY acquired a new stake in shares of Astera Labs during the first quarter valued at about $37,095,000.

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.