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

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) traded down 7.9% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $90.56 and last traded at $91.47. 2,768,253 shares traded hands during trading, a decline of 8% from the average session volume of 2,996,240 shares. The stock had previously closed at $99.30.

Specifically, Director Stefan A. Dyckerhoff sold 50,000 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 $11,626,644.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALAB. Morgan Stanley raised their target price on Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Needham & Company LLC reissued a "buy" rating and set a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Evercore ISI cut their target price on Astera Labs from $98.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $92.36.

Astera Labs Stock Down 7.1 %

The firm has a 50 day simple moving average of $59.05 and a two-hundred day simple moving average of $58.70.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. Astera Labs's revenue for the quarter was up 47.1% on a year-over-year basis. As a group, equities research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Astera Labs

Institutional investors have recently modified their holdings of the business. Sei Investments Co. acquired a new position in Astera Labs during the first quarter worth $952,000. Lord Abbett & CO. LLC acquired a new position in Astera Labs during the first quarter worth $33,141,000. Forge First Asset Management Inc. acquired a new position in Astera Labs during the first quarter worth $1,143,000. Vanguard Group Inc. acquired a new position in Astera Labs during the first quarter worth $127,268,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Astera Labs during the first quarter worth $1,484,000.

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.