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

Astera Labs, Inc. (NASDAQ:ALAB) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $190.69, but opened at $185.00. Astera Labs shares last traded at $185.04, with a volume of 972,596 shares.

Specifically, CFO Michael Truett Tate sold 100,000 shares of Astera Labs stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $191.19, for a total value of $19,119,000.00. Following the completion of the sale, the chief financial officer owned 401,496 shares in the company, valued at $76,762,020.24. The trade was a 19.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stefan A. Dyckerhoff sold 1,000 shares of Astera Labs stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $173.42, for a total value of $173,420.00. Following the completion of the sale, the director owned 8,936 shares of the company’s stock, valued at $1,549,681.12. This trade represents a 10.06% decrease in their position. The disclosure for this sale can be found here. In other Astera Labs news, Director Stefan A. Dyckerhoff sold 25,000 shares of Astera Labs stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $173.42, for a total value of $4,335,500.00. Following the completion of the sale, the director owned 99,154 shares in the company, valued at $17,195,286.68. The trade was a 20.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Northland Securities cut Astera Labs from an “outperform” rating to a “market perform” rating and set a $120.00 price target for the company. in a report on Tuesday, July 22nd. Barclays restated an “overweight” rating and issued a $155.00 price target (up previously from $75.00) on shares of Astera Labs in a report on Thursday, August 7th. Evercore ISI lifted their price objective on Astera Labs from $104.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, August 6th. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Needham & Company LLC lifted their price objective on Astera Labs from $100.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.13.

Astera Labs Trading Down 2.5%

The firm has a 50-day moving average of $115.49 and a 200 day moving average of $90.17. The stock has a market capitalization of $30.89 billion, a price-to-earnings ratio of 331.88, a price-to-earnings-growth ratio of 4.84 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. The firm had revenue of $191.93 million for the quarter, compared to analyst estimates of $172.46 million. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. Astera Labs’s revenue for the quarter was up 149.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. As a group, research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Astera Labs

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. raised its position in shares of Astera Labs by 2.2% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,119 shares of the company’s stock valued at $372,000 after purchasing an additional 90 shares in the last quarter. Straight Path Wealth Management raised its position in shares of Astera Labs by 1.5% in the 2nd quarter. Straight Path Wealth Management now owns 6,850 shares of the company’s stock valued at $619,000 after purchasing an additional 100 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Astera Labs by 12.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 982 shares of the company’s stock valued at $89,000 after purchasing an additional 108 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Astera Labs by 68.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 477 shares of the company’s stock valued at $43,000 after purchasing an additional 194 shares in the last quarter. Finally, Hoey Investments Inc. raised its position in shares of Astera Labs by 4.2% in the 1st quarter. Hoey Investments Inc. now owns 5,000 shares of the company’s stock valued at $298,000 after purchasing an additional 200 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

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.