Astera Labs (NASDAQ:ALAB) Stock Price Down 3% Following Insider Selling

Astera Labs, Inc. (NASDAQ:ALAB) dropped 3% during trading on Wednesday following insider selling activity. The stock traded as low as $102.16 and last traded at $102.31. Approximately 281,707 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 3,161,878 shares. The stock had previously closed at $105.48.

Specifically, CEO Jitendra Mohan sold 173,366 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $110.12, for a total transaction of $19,091,063.92. Following the completion of the sale, the chief executive officer now owns 600,000 shares of the company’s stock, valued at approximately $66,072,000. This represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 7,814 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $107.17, for a total transaction of $837,426.38. Following the sale, the director now owns 121,803 shares in the company, valued at $13,053,627.51. This represents a 6.03 % decrease in their position. The disclosure for this sale can be found here. In other Astera Labs news, Director Stefan A. Dyckerhoff sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $105.90, for a total transaction of $3,177,000.00. Following the completion of the transaction, the director now directly owns 3,765 shares in the company, valued at $398,713.50. The trade was a 88.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Roth Mkm lifted their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus boosted their target price on Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum raised their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $94.67.

Astera Labs Trading Down 5.6 %

The company has a 50-day moving average of $73.12 and a 200-day moving average of $60.57.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities research analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALAB. Hollencrest Capital Management bought a new stake in shares of Astera Labs during the 3rd quarter valued at about $26,000. US Bancorp DE acquired a new position in Astera Labs in the third quarter valued at approximately $46,000. First Horizon Advisors Inc. bought a new position in shares of Astera Labs during the 3rd quarter worth approximately $49,000. Allworth Financial LP grew its position in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares during the period. Finally, Amalgamated Bank acquired a new stake in shares of Astera Labs during the 2nd quarter worth approximately $74,000.

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.