🔴 Astera Labs is trading 4.1% down today after Northland Capital Markets cut its rating

Astera Labs is trading at $333.00, down -4.05%, after Northland Capital Markets cut its rating to Market Perform from Outperform.

• Zacks Research had previously lowered its rating to Hold from Strong Buy, citing valuation, costs and competition.
• The decline extends the prior session’s selloff; chip stocks faced pressure over AI-revenue concerns.
• The October 8 Aries 7 product announcement was positive, but coverage did not identify it as a reason for the drop.