Astera Labs (NASDAQ:ALAB) Shares Down 3% After Insider Selling

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

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

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus lifted their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI dropped their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Citigroup initiated coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Finally, Barclays boosted their price target on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $94.67.

Astera Labs Stock Performance

The company has a fifty day moving average of $73.12 and a two-hundred day moving average of $60.57.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share 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 business’s quarterly revenue was up 47.1% compared to the same quarter last year. Analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Avior Wealth Management LLC acquired a new stake in shares of Astera Labs in the third quarter valued at approximately $361,000. Meeder Asset Management Inc. acquired a new position in Astera Labs in the 3rd quarter valued at $1,141,000. Bank of Hawaii bought a new stake in shares of Astera Labs during the 3rd quarter valued at $1,409,000. Vanguard Group Inc. bought a new stake in shares of Astera Labs during the 1st quarter valued at $127,268,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Astera Labs during the 3rd quarter worth $291,000.

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.