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Astera Labs, Inc. (NASDAQ:ALAB) holds a "Buy" rating with a consensus target price of $109.25. Recently, insiders sold significant shares, with Director Michael E. Hurlston and General Counsel Philip Mazzara reducing their stakes by 2.65% and 3.03%, respectively. Despite a recent earnings miss, analysts remain optimistic, with several raising price targets, reflecting confidence in the company's growth potential in semiconductor connectivity solutions.
General Counsel Philip Mazzara now holds 241,209 shares of Astera Labs, valued at approximately $22.2 million, after a 3.03% decrease in ownership. Director Michael E. Hurlston sold 2,500 shares for $230,200, reducing his stake by 2.65%. Over the last ninety days, insiders sold a total of 570,990 shares valued at $50.2 million.
Dow Jones, S&P 500, and Nasdaq futures will open Sunday evening, with the final Federal Reserve meeting of 2024 scheduled for Dec. 17-18, where a quarter-point rate cut is expected. The stock market had a mixed week, with the Nasdaq slightly up, driven by gains in Alphabet, Tesla, and Broadcom, while Nvidia lagged amid rising Treasury yields. Palantir, MicroStrategy, and Axon Enterprise will join the Nasdaq 100 index, replacing Moderna, Super Micro Computer, and Illumina.
Jim Cramer advises investors to take profits on soaring IPOs, particularly those like Reddit, which has seen its stock price more than double since its first post-IPO quarter. He emphasizes the importance of remaining grounded amid market exuberance and suggests selling portions of high-performing positions to mitigate risk. Cramer notes that the scarcity of new IPOs is contributing to inflated valuations, and warns that a market downturn could lead to significant losses if investors do not act prudently.
Astera Labs, Inc.
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