Astera Labs (NASDAQ:ALAB) Shares Down 5.2% Following Insider Selling

Astera Labs, Inc. (NASDAQ:ALAB) traded down 5.2% on Monday after an insider sold shares in the company. The company traded as low as $68.50 and last traded at $70.50. 1,639,659 shares changed hands 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 Astera Labs stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the sale, the chief financial officer now directly owns 244,242 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Roth Mkm raised their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lifted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft increased their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $115.33.

Astera Labs Stock Performance

The business has a 50 day moving average of $110.51 and a two-hundred day moving average of $87.02. The stock has a market capitalization of $10.97 billion and a PE ratio of -39.12.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Astera Labs

Institutional investors have recently bought and sold shares of the company. US Bancorp DE acquired a new position in shares of Astera Labs during the third quarter worth $46,000. Janney Capital Management LLC acquired a new position in Astera Labs during the 3rd quarter valued at about $388,000. Van ECK Associates Corp acquired a new position in Astera Labs during the 3rd quarter valued at about $462,000. Emerald Advisers LLC raised its stake in Astera Labs by 2,078.5% in the third quarter. Emerald Advisers LLC now owns 6,296 shares of the company’s stock valued at $330,000 after buying an additional 6,007 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new stake in Astera Labs in the third quarter worth about $26,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.