On August 3, Astera Labs, Inc. declined 5.85% in regular trading, trading at 295.72 USD/share, with turnover of approximately $104 million. The drop came despite Morgan Stanley raising its price target on the company from $240 to $335 while maintaining an Overweight rating.

The decline was primarily driven by broad-based semiconductor sector weakness, with Micron Technology falling 4.64%, SK Hynix down 4.65%, Intel dropping 3.66%, and AMD sliding 2.81%, as sector-wide short sentiment weighed on high-beta names. Additionally, the company is scheduled to report Q2 earnings on August 4 after market close, with consensus estimates at $0.69 EPS and approximately $361 million in revenue. The approaching earnings window, combined with concentrated profit-taking following a sharp rebound in prior sessions — including gains of over 13% on July 30 and nearly 10% on July 31 — intensified near-term selling pressure.

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