On June 23, Astera Labs declined 3.11% overnight, trading at 429.0 USD/share, with turnover of $2.682 million.

On the news front, the Nasdaq 100 index constituent adjustment officially took effect before the open on June 22, concluding the passive fund forced allocation cycle that had driven the stock higher since June 17. With the index inclusion catalyst now fully realized, profit-taking pressure from earlier gains has emerged. Astera Labs had rallied consecutively in the days leading up to the effective date, with trading volume surging to $551 million on June 22 as passive funds completed their mandatory purchases. The stock appreciated from approximately $372 on June 17 to over $433 on the effective date, representing a gain of more than 16% over four trading sessions.

The broader semiconductor sector also weighed on shares, with Marvell Technology down 3.86%, Micron Technology down 2.67%, Intel down 2.67%, Advanced Micro Devices down 1.75%, and NVIDIA down 1.01%, creating sector-wide downward pressure.

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