Astera Labs (NASDAQ:ALAB) Stock Price Down 5.2% After Insider Selling

Shares of Astera Labs, Inc. (NASDAQ:ALAB) fell 5.2% during trading on Monday following insider selling activity. The stock traded as low as $68.50 and last traded at $70.50. 1,639,659 shares were traded during trading, a decline of 70% from the average session volume of 5,480,739 shares. The stock had previously closed at $74.35.

Specifically, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Barclays increased their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Roth Mkm raised their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley dropped their target price on 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, Stifel Nicolaus raised their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $115.33.

Astera Labs Trading Down 9.0 %

The firm’s fifty day moving average price is $110.51 and its two-hundred day moving average price is $87.02. The stock has a market capitalization of $10.97 billion and a PE ratio of -39.12.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS 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%. As a group, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Astera Labs

Institutional investors and hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the 4th quarter valued at approximately $25,000. Kestra Investment Management LLC acquired a new stake in Astera Labs in the 4th quarter valued at $28,000. GAMMA Investing LLC increased its holdings in Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Astera Labs by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock worth $630,000 after acquiring an additional 237 shares in the last quarter. Hedge funds and other 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.