Astera Labs (NASDAQ:ALAB) Trading Down 5.2% - Time to Sell?

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report)'s share price traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $68.06 and last traded at $68.44. 572,943 shares changed hands during trading, a decline of 84% from the average session volume of 3,659,110 shares. The stock had previously closed at $72.19.

Analyst Ratings Changes

ALAB has been the subject of a number of recent research reports. Craig Hallum increased their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Needham & Company LLC restated a "buy" rating and set a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Raymond James began coverage on Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price on the stock. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Astera Labs currently has an average rating of "Buy" and a consensus price target of $112.77.

Astera Labs Stock Up 2.9 %

The business's fifty day moving average price is $83.53 and its 200 day moving average price is $90.67. The firm has a market capitalization of $9.96 billion and a PE ratio of -35.54.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In related news, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the sale, the chief financial officer now directly owns 244,242 shares of the company's stock, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the transaction, the director now directly owns 91,794 shares of the company's stock, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 570,990 shares of company stock valued at $50,242,702.

Institutional Trading of Astera Labs

A number of hedge funds have recently bought and sold shares of ALAB. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs during the 4th quarter valued at about $25,000. Steward Partners Investment Advisory LLC boosted 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 buying an additional 99 shares during the period. Kestra Investment Management LLC acquired a new stake in Astera Labs in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. acquired a new position in Astera Labs in the 4th quarter worth $36,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after acquiring an additional 284 shares in the last quarter. Institutional investors and hedge funds 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.