Astera Labs, Inc. (NASDAQ:ALAB - Get Free Report)'s share price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $103.29, but opened at $97.11. Astera Labs shares last traded at $102.26, with a volume of 2,875,092 shares changing hands.
The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%.
Several research firms have weighed in on ALAB. Stifel Nicolaus lifted their target price on Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective 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. Deutsche Bank Aktiengesellschaft increased their target price on shares of Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Morgan Stanley reduced their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Finally, Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $115.33.
Check Out Our Latest Report on Astera Labs
In other Astera Labs news, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the transaction, the chief financial officer now owns 1,412,888 shares of the company's stock, valued at $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 2,513 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the sale, the general counsel now directly owns 248,745 shares of the company's stock, valued at $22,588,533.45. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 846,452 shares of company stock valued at $86,427,256 over the last three months.
Large investors have recently bought and sold shares of the business. Zevenbergen Capital Investments LLC acquired a new position in Astera Labs in the fourth quarter valued at $219,000. Prudential Financial Inc. acquired a new position in Astera Labs in the 4th quarter valued at about $632,000. Corebridge Financial Inc. raised its stake in Astera Labs by 359.9% during the 4th quarter. Corebridge Financial Inc. now owns 814 shares of the company's stock valued at $108,000 after acquiring an additional 637 shares during the last quarter. Emerald Advisers LLC lifted its position in Astera Labs by 71.3% during the 4th quarter. Emerald Advisers LLC now owns 10,788 shares of the company's stock worth $1,429,000 after acquiring an additional 4,492 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after purchasing an additional 7,186,582 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.
The stock has a fifty day moving average price of $122.39 and a 200-day moving average price of $82.55.
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.
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