Astera Labs (NASDAQ:ALAB) Stock Falls 1.7% – Here’s What Happened

Astera Labs, Inc. (NASDAQ:ALAB)’s share price traded down 1.7% on Friday. The company traded as low as $342.20 and last traded at $350.33. Approximately 4,088,118 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 5,194,858 shares. The stock had previously closed at $356.42.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of Astera Labs from $200.00 to $325.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Susquehanna lifted their price target on Astera Labs from $230.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Morgan Stanley boosted their price objective on Astera Labs to $335.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. UBS Group reissued a “neutral” rating and set a $425.00 price objective on shares of Astera Labs in a report on Wednesday, August 5th. Finally, Stifel Nicolaus raised their target price on Astera Labs from $260.00 to $460.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $348.33.

Astera Labs Stock Down 1.7%

The firm has a market capitalization of $60.78 billion, a PE ratio of 173.43 and a beta of 3.67. The company has a 50-day moving average of $307.86 and a 200 day moving average of $281.52.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.11. Astera Labs had a return on equity of 19.24% and a net margin of 30.74%.The firm had revenue of $392.40 million for the quarter, compared to analysts’ expectations of $360.85 million. During the same quarter last year, the firm posted $0.44 EPS. The company’s revenue was up 104.5% compared to the same quarter last year. Astera Labs has set its Q3 2026 guidance at 1.160-1.210 EPS. As a group, equities analysts anticipate that Astera Labs, Inc. will post 2.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, CEO Jitendra Mohan sold 90,630 shares of Astera Labs stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $340.35, for a total transaction of $30,845,920.50. Following the completion of the sale, the chief executive officer directly owned 1,266,665 shares in the company, valued at $431,109,432.75. The trade was a 6.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Philip Mazzara sold 6,801 shares of Astera Labs stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $340.50, for a total transaction of $2,315,740.50. Following the sale, the general counsel owned 96,542 shares of the company’s stock, valued at approximately $32,872,551. The trade was a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 396,059 shares of company stock valued at $122,605,660 over the last three months. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of Astera Labs

A number of hedge funds have recently made changes to their positions in ALAB. QRG Capital Management Inc. grew its position in Astera Labs by 8.7% in the second quarter. QRG Capital Management Inc. now owns 4,775 shares of the company’s stock worth $2,306,000 after acquiring an additional 381 shares in the last quarter. Silicon Valley Capital Partners raised its position in Astera Labs by 99.0% during the second quarter. Silicon Valley Capital Partners now owns 1,990 shares of the company’s stock valued at $961,000 after purchasing an additional 990 shares in the last quarter. Twin Peaks Capital Ltd bought a new stake in Astera Labs during the second quarter worth about $4,830,000. Capstone Financial Advisors Inc. bought a new stake in Astera Labs during the second quarter worth about $274,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Astera Labs by 19.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,677 shares of the company’s stock worth $1,776,000 after purchasing an additional 588 shares in the last quarter. 60.47% of the stock is owned by institutional investors.

Astera Labs Company Profile

Astera Labs, Inc is a fabless semiconductor company that develops connectivity solutions for cloud and artificial intelligence infrastructure. Its products are designed to help data centers connect and manage processors, memory, storage, and networking components in high-performance computing systems.

The company’s portfolio includes Aries PCI Express and Compute Express Link (CXL) smart memory controllers, Scorpio PCIe switches, Taurus Ethernet fabric switches, and Leo CXL memory connectivity products.