Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) shares dropped 8.3% during trading on Tuesday . The stock traded as low as $80.51 and last traded at $77.59. Approximately 571,876 shares were traded during trading, a decline of 89% from the average daily volume of 5,340,729 shares. The stock had previously closed at $84.63.
Wall Street Analyst Weigh In
ALAB has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Stifel Nicolaus raised their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a report on Monday, January 6th. Barclays lifted their price target 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. Morgan Stanley dropped their price objective on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Finally, Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Astera Labs presently has an average rating of "Buy" and an average price target of $115.33.
Check Out Our Latest Analysis on Astera Labs
Astera Labs Price Performance
The firm's 50 day simple moving average is $111.87 and its 200-day simple moving average is $86.85. The company has a market cap of $10.97 billion and a price-to-earnings ratio of -39.12.
Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $0.10 earnings per share 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, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.
Insider Activity
In related news, CEO Jitendra Mohan sold 350,680 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the firm's stock in a transaction 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 in the company, valued at $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 597,990 shares of company stock valued at $53,420,642.
Hedge Funds Weigh In On Astera Labs
Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company's stock worth $1,231,377,000 after acquiring an additional 153,491 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares during the period. Alliancebernstein L.P. grew its position in Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after buying an additional 3,760,765 shares during the last quarter. Fred Alger Management LLC grew its position in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock valued at $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after buying an additional 792,153 shares during the period. Institutional investors and hedge funds own 60.47% of the company's stock.
About Astera Labs
(
Get Free Report)
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.
Further Reading
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