Astera Labs (NASDAQ:ALAB) Shares Gap Down – Should You Sell?

Astera Labs, Inc. (NASDAQ:ALAB)’s share price gapped down prior to trading on Monday . The stock had previously closed at $141.53, but opened at $135.27. Astera Labs shares last traded at $134.87, with a volume of 797,020 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ALAB shares. Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Morgan Stanley lifted their price objective on Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $98.67.

Astera Labs Price Performance

The firm’s fifty day moving average price is $105.68 and its 200-day moving average price is $70.18.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm 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%. The firm’s revenue was up 47.1% on a year-over-year basis. Sell-side analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares in the company, valued at $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Manuel Alba sold 11,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the transaction, the director now owns 456,863 shares of the company’s stock, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,978,119 shares of company stock valued at $186,618,509.

Institutional Investors Weigh In On Astera Labs

Several institutional investors have recently bought and sold shares of ALAB. Tidal Investments LLC raised its holdings in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after purchasing an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Astera Labs in the third quarter valued at $530,000. Avior Wealth Management LLC acquired a new stake in Astera Labs in the 3rd quarter valued at $361,000. Maverick Capital Ltd. lifted its position in Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after buying an additional 159,480 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Astera Labs during the 3rd quarter worth about $1,141,000. 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.