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

Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $115.55, but opened at $102.24. Astera Labs shares last traded at $95.89, with a volume of 3,430,430 shares traded.

Analysts Set New Price Targets

A number of brokerages have commented on ALAB. Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Needham & Company LLC restated a "buy" rating and issued a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Morgan Stanley cut shares of Astera Labs from an "overweight" rating to an "equal weight" rating and set a $142.00 target price for the company. in a research note on Tuesday, January 21st. Northland Capmk lowered shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Finally, Stifel Nicolaus raised their price target 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. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Astera Labs presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.75.

Astera Labs Stock Performance

The firm has a 50 day moving average of $123.01 and a 200-day moving average of $79.09.

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 (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The business's revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities analysts anticipate that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 42,000 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.56, for a total value of $4,055,520.00. Following the sale, the general counsel now directly owns 258,564 shares of the company's stock, valued at $24,966,939.84. This represents a 13.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALAB. Tidal Investments LLC lifted its position in shares of Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock worth $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Astera Labs during the 3rd quarter worth $530,000. Avior Wealth Management LLC bought a new position in Astera Labs in the 3rd quarter valued at $361,000. Maverick Capital Ltd. boosted its position in Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock valued at $60,575,000 after buying an additional 159,480 shares during the last quarter. Finally, Bank of Hawaii acquired a new stake in shares of Astera Labs in the 3rd quarter valued at $1,409,000. 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.