Barclays Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB) had its price objective raised by Barclays from $70.00 to $87.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential downside of 11.38% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus dropped their price objective on Astera Labs from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Morgan Stanley increased their target price on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Roth Mkm dropped 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. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Astera Labs has an average rating of “Buy” and a consensus target price of $92.36.

Astera Labs Stock Up 2.4 %

ALAB opened at $98.17 on Tuesday. The stock’s 50 day moving average price is $57.00 and its 200-day moving average price is $58.39. Astera Labs has a one year low of $36.22 and a one year high of $98.68.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. Equities analysts forecast that Astera Labs will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the 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 sale, the general counsel now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the 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 sale, the general counsel now directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjay Gajendra sold 110,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the sale, the insider now directly owns 835,000 shares in the company, valued at $58,007,450. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 564,458 shares of company stock worth $31,970,841 in the last 90 days.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors have recently modified their holdings of the business. Strategic Blueprint LLC grew its position in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock valued at $298,000 after acquiring an additional 195 shares during the period. Hollencrest Capital Management acquired a new stake in shares of Astera Labs during the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC grew its position in shares of Astera Labs by 26.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after acquiring an additional 500 shares during the period. US Bancorp DE acquired a new stake in shares of Astera Labs during the 3rd quarter valued at about $46,000. Finally, Allworth Financial LP grew its position in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares during the period.

About Astera Labs

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.