Astera Labs (NASDAQ:ALAB) Trading Down 5.2% on Insider Selling

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report)'s share price was down 5.2% during trading on Monday following insider selling activity. The company traded as low as $68.50 and last traded at $70.50. Approximately 1,639,659 shares were traded during trading, a decline of 70% from the average daily volume of 5,480,739 shares. The stock had previously closed at $74.35.

Specifically, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the sale, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. This represents a 34.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALAB. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Stifel Nicolaus lifted their target price on Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Barclays raised their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Needham & Company LLC reissued a "buy" rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $115.33.

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Astera Labs Trading Up 1.7 %

The company has a market cap of $10.47 billion and a price-to-earnings ratio of -37.31. The stock's 50 day moving average price is $105.96 and its 200 day moving average price is $86.93.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, equities analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALAB. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs during the 4th quarter worth about $25,000. Hollencrest Capital Management purchased a new stake in Astera Labs during the third quarter worth approximately $26,000. Steward Partners Investment Advisory LLC increased its position in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $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 valued at $28,000. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs during the 4th quarter valued at $36,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.