Astera Labs’ (ALAB) “Buy” Rating Reaffirmed at Needham & Company LLC

Astera Labs (NASDAQ:ALAB)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports. They currently have a $65.00 price target on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 22.73% from the company’s previous close.

A number of other equities analysts have also recently commented on ALAB. Barclays reduced their price target on Astera Labs from $85.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Evercore ISI dropped their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lifted their price target on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus decreased their target price on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $73.09.

Astera Labs Trading Up 0.8 %

Shares of ALAB stock opened at $52.96 on Wednesday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $95.21. The stock has a 50 day moving average of $44.50 and a two-hundred day moving average of $58.59.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $76.90 million during the quarter, compared to the consensus estimate of $72.41 million. The business’s revenue was up 17.8% on a year-over-year basis. On average, equities analysts anticipate that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Manuel Alba sold 37,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $50.32, for a total value of $1,861,840.00. Following the transaction, the director now directly owns 498,863 shares in the company, valued at approximately $25,102,786.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Astera Labs news, Director Manuel Alba sold 37,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the completion of the transaction, the director now owns 498,863 shares in the company, valued at $25,102,786.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Philip Mazzara sold 8,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $43.12, for a total transaction of $344,960.00. Following the completion of the sale, the general counsel now directly owns 325,474 shares in the company, valued at $14,034,438.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,791 shares of company stock worth $12,933,588 over the last quarter.

Institutional Trading of Astera Labs

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. acquired a new stake in Astera Labs during the 1st quarter worth about $127,268,000. Capital World Investors acquired a new stake in shares of Astera Labs in the first quarter valued at about $44,514,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs during the first quarter valued at approximately $44,514,000. Bamco Inc. NY purchased a new position in Astera Labs in the 1st quarter valued at $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new position in Astera Labs during the first quarter worth 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.