Astera Labs (NASDAQ:ALAB) PT Raised to $74.00

Astera Labs (NASDAQ:ALAB) had its price target hoisted by Morgan Stanley from $55.00 to $74.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 39.73% from the company’s previous close.

ALAB has been the topic of a number of other research reports. Roth Mkm reduced their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Barclays reduced their target price on Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI reduced their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Craig Hallum cut their price objective on Astera Labs from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $73.09.

Astera Labs Trading Up 0.8 %

Shares of Astera Labs stock opened at $52.96 on Wednesday. Astera Labs has a one year low of $36.22 and a one year high of $95.21. The business’s 50 day moving average price is $44.28 and its 200 day moving average price is $58.71.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, August 6th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million during the quarter, compared to analysts’ expectations of $72.41 million. The business’s quarterly revenue was up 17.8% compared to the same quarter last year. Analysts forecast that Astera Labs will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Manuel Alba sold 37,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was 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 directly owns 498,863 shares of the company’s stock, valued at $25,102,786.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the transaction, the general counsel now directly owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Manuel Alba sold 37,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was 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 of the company’s stock, valued at approximately $25,102,786.16. This 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 valued at $12,933,588 in the last three months.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in shares of Astera Labs during the 3rd quarter worth about $594,000. Newbridge Financial Services Group Inc. boosted its position in shares of Astera Labs by 11,920.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 3,005 shares of the company’s stock worth $182,000 after acquiring an additional 2,980 shares in the last quarter. Sycomore Asset Management acquired a new position in shares of Astera Labs during the 2nd quarter worth about $2,038,000. Truist Financial Corp acquired a new position in shares of Astera Labs during the 2nd quarter worth about $353,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Astera Labs during the 2nd quarter worth about $341,000.

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.