Astera Labs (NASDAQ:ALAB) Shares Gap Down – Here’s What Happened

Shares of Astera Labs, Inc. (NASDAQ:ALABGet Free Report) gapped down prior to trading on Monday . The stock had previously closed at $141.53, but opened at $135.27. Astera Labs shares last traded at $134.87, with a volume of 797,020 shares trading hands.

Analysts Set New Price Targets

ALAB has been the topic of a number of recent analyst reports. Barclays boosted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Craig Hallum boosted their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Astera Labs has a consensus rating of “Buy” and a consensus price target of $98.67.

Get Our Latest Stock Report on ALAB

Astera Labs Stock Performance

The firm’s fifty day moving average price is $103.02 and its 200-day moving average price is $69.18.

Astera Labs (NASDAQ:ALABGet Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.23 EPS 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 the consensus estimate of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% compared to the same quarter last year. Research analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the sale, the director now directly owns 135,000 shares in the company, valued at approximately $9,443,250. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now owns 775,000 shares in the company, valued at $74,857,250. This represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,978,119 shares of company stock worth $186,618,509 over the last three months.

Institutional Trading of Astera Labs

Large investors have recently made changes to their positions in the company. FMR LLC grew its stake in Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after acquiring an additional 153,491 shares during the period. Fred Alger Management LLC raised its stake in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Astera Labs by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after purchasing an additional 47,569 shares in the last quarter. Maverick Capital Ltd. boosted its position in shares of Astera Labs by 16.0% during the third 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, Westfield Capital Management Co. LP bought a new stake in Astera Labs during the third quarter worth $52,049,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Astera Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astera Labs and related companies with MarketBeat.com's FREE daily email newsletter.