Astera Labs (NASDAQ:ALAB) Shares Down 7.4% - What's Next?

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) fell 7.4% during mid-day trading on Friday . The stock traded as low as $95.01 and last traded at $92.14. 1,707,702 shares were traded during trading, a decline of 59% from the average session volume of 4,124,692 shares. The stock had previously closed at $99.53.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays raised their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Citigroup lowered their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley raised Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective on the stock in a report on Monday, May 12th. Stifel Nicolaus dropped their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Susquehanna started coverage on shares of Astera Labs in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 price target for the company. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Astera Labs presently has a consensus rating of "Buy" and a consensus target price of $100.00.

Astera Labs Stock Performance

The firm's fifty day simple moving average is $80.98 and its 200 day simple moving average is $92.18. The stock has a market capitalization of $15.57 billion, a price-to-earnings ratio of 430.52, a P/E/G ratio of 4.68 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm's revenue was up 144.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Analysts forecast 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, insider Sanjay Gajendra sold 165,000 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the transaction, the insider now owns 755,000 shares in the company, valued at approximately $54,178,800. This represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 75,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the transaction, the chief executive officer now owns 575,000 shares of the company's stock, valued at approximately $40,853,750. This represents a 11.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,601,777 shares of company stock valued at $141,082,321 in the last 90 days.

Institutional Investors Weigh In On Astera Labs

Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs during the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC grew its position in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Astera Labs during the 4th quarter worth about $28,000. Global Retirement Partners LLC raised its holdings in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after purchasing an additional 284 shares during the period. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Astera Labs in the 4th quarter valued at about $43,000. Institutional investors own 60.47% of the company's stock.

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.

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