Astera Labs (NASDAQ:ALAB) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Astera Labs (NASDAQ:ALAB) had its price objective increased by Deutsche Bank Aktiengesellschaft from $60.00 to $100.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 1.86% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Stifel Nicolaus reduced their price target on shares of Astera Labs from $87.00 to $80.00 and set a “buy” rating for the company in a report on Monday, August 5th. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of Astera Labs in a report on Wednesday, October 9th. Roth Mkm reduced their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Morgan Stanley boosted their price target on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Eleven equities research 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 an average target price of $92.36.

Astera Labs Trading Up 2.4 %

ALAB stock opened at $98.17 on Tuesday. Astera Labs has a 1-year low of $36.22 and a 1-year high of $98.68. The firm has a fifty day moving average price of $57.00 and a two-hundred day moving average price of $58.39.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. Equities research analysts expect that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the transaction, the chief executive officer now owns 728,420 shares of the company’s stock, valued at approximately $51,178,789.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 564,458 shares of company stock worth $31,970,841 over the last 90 days.

Hedge Funds Weigh In On Astera Labs

Institutional investors have recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of Astera Labs in the third quarter valued at approximately $26,000. US Bancorp DE bought a new position in shares of Astera Labs in the third quarter valued at approximately $46,000. Allworth Financial LP raised its position in shares of Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after purchasing an additional 891 shares during the period. Amalgamated Bank bought a new position in shares of Astera Labs in the second quarter valued at approximately $74,000. Finally, Venturi Wealth Management LLC raised its position in shares of Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after purchasing an additional 500 shares during the period.

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.