Astera Labs, Inc. (NASDAQ:ALAB) Given Consensus Rating of “Buy” by Analysts

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have earned a consensus rating of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $86.09.

A number of research analysts have recently commented on ALAB shares. Stifel Nicolaus started coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $81.00 price target for the company. Jefferies Financial Group started coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $85.00 price target for the company. JPMorgan Chase & Co. started coverage on Astera Labs in a report on Monday, April 15th. They set an “overweight” rating and a $85.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $85.00 price target on shares of Astera Labs in a report on Wednesday, May 8th. Finally, Craig Hallum assumed coverage on Astera Labs in a report on Monday, April 15th. They set a “buy” rating and a $90.00 price target for the company.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $60.51 on Friday. The stock’s 50 day moving average is $68.85. Astera Labs has a 12-month low of $50.61 and a 12-month high of $95.21.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, May 7th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($1.62). The business had revenue of $65.26 million during the quarter, compared to analysts’ expectations of $56.65 million. As a group, equities analysts predict that Astera Labs will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new stake in shares of Astera Labs during the first quarter worth $127,268,000. Capital World Investors bought a new stake in shares of Astera Labs during the first quarter worth $44,514,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Astera Labs during the first quarter worth $44,514,000. Bamco Inc. NY bought a new position in Astera Labs in the first quarter valued at about $37,095,000. Finally, Lord Abbett & CO. LLC bought a new position in Astera Labs in the first quarter valued at about $33,141,000.

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.