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

Shares of Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $133.30, but opened at $128.50. Astera Labs shares last traded at $121.89, with a volume of 863,679 shares traded.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of research analyst reports. 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. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Craig Hallum lifted their price objective on Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Northland Capmk lowered Astera Labs from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Finally, Morgan Stanley lowered Astera Labs from an "overweight" rating to an "equal weight" rating and set a $142.00 price objective for the company. in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $109.75.

Astera Labs Stock Down 6.7 %

The company has a 50 day moving average of $120.38 and a two-hundred day moving average of $77.29.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $97.50 million. The business's quarterly revenue was up 47.1% on a year-over-year basis. As a group, research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insiders Place Their Bets

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the sale, the insider now directly owns 775,000 shares in the company, valued at approximately $74,857,250. The trade was a 48.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the business's stock in a transaction that occurred on 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 approximately $11,626,644.90. This trade represents a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALAB. Hollencrest Capital Management acquired a new position in shares of Astera Labs during the 3rd quarter worth approximately $26,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs during the 4th quarter worth approximately $36,000. ORG Wealth Partners LLC acquired a new position in shares of Astera Labs during the 4th quarter worth approximately $42,000. US Bancorp DE acquired a new position in shares of Astera Labs during the 3rd quarter worth approximately $46,000. Finally, First Horizon Advisors Inc. acquired a new position in shares of Astera Labs during the 3rd quarter worth approximately $49,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.