Astera Labs (NASDAQ:ALAB) Shares Gap Down - Should You Sell?

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $101.42, but opened at $88.90. Astera Labs shares last traded at $95.21, with a volume of 1,628,537 shares traded.

Wall Street Analysts Forecast Growth

ALAB has been the subject of a number of analyst reports. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research note on Tuesday, January 28th. Morgan Stanley cut their price target on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Roth Mkm upped their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Barclays raised their target price on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Astera Labs has an average rating of "Buy" and a consensus price target of $107.42.

Astera Labs Stock Down 3.1 %

The business has a fifty day simple moving average of $122.39 and a 200-day simple moving average of $81.70.

Insider Buying and Selling

In other Astera Labs news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the transaction, the general counsel now directly owns 248,745 shares of the company's stock, valued at approximately $22,588,533.45. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now directly owns 628,895 shares of the company's stock, valued at approximately $65,109,499.35. The trade was a 21.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 846,452 shares of company stock worth $86,427,256 in the last three months.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALAB. Hollencrest Capital Management purchased a new stake in shares of Astera Labs during the third quarter worth about $26,000. Steward Partners Investment Advisory LLC boosted its stake in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Astera Labs in the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC boosted its position in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after acquiring an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

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.