On August 18, Astera Labs, Inc. declined 3.02% overnight, trading at $310.36/share, with turnover of $4.9324 million.

On the news front, the semiconductor sector came under broad selling pressure, with Micron Technology falling 2.94%, Intel down 2.78%, Advanced Micro Devices declining 2.14%, NVIDIA slipping 1.21%, and Broadcom dropping 0.92%, reflecting a sector-wide pullback. The decline follows a sharp 8.67% surge on August 17, driven by Northland Securities upgrading Astera Labs from Market Perform to Outperform with a $350 price target. The rapid short-term rally triggered renewed profit-taking pressure.

On fundamentals, the company reported Q2 adjusted EPS of $0.80 versus $0.69 estimate, with revenue of $392.4 million beating the $360.7 million consensus. Q3 guidance of $540-560 million significantly exceeded the $417 million market expectation. The AI infrastructure demand thesis remains intact, with the current pullback reflecting a continuation of post-rally digestion rather than a deterioration in outlook. Analysts polled by FactSet maintain an average overweight rating with a mean price target of $416.78.

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