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

Astera Labs (NASDAQ:ALAB) had its price objective upped by equities researchers at Morgan Stanley from $74.00 to $94.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential downside of 4.25% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Evercore ISI cut their target price on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Barclays increased their price target on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday. Craig Hallum increased their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Stifel Nicolaus increased their price target on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $92.36.

Astera Labs Stock Performance

Astera Labs 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 company’s 50-day moving average is $57.00 and its two-hundred day moving average is $58.39.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (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 analyst estimates of $97.50 million. The business’s revenue was up 47.1% on a year-over-year basis. As a group, equities analysts expect that Astera Labs will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jack R. Lazar sold 2,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction of $139,900.00. Following the completion of the sale, the director now directly owns 135,000 shares of the company’s stock, valued at approximately $9,443,250. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Sanjay Gajendra sold 110,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the sale, the insider now directly owns 835,000 shares of the company’s stock, valued at approximately $58,007,450. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack R. Lazar sold 2,000 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the sale, the director now directly owns 135,000 shares of the company’s stock, valued at approximately $9,443,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 564,458 shares of company stock valued at $31,970,841.

Hedge Funds Weigh In On Astera Labs

Hedge funds have recently made changes to their positions in the business. Sei Investments Co. bought a new position in shares of Astera Labs during the 1st quarter worth approximately $952,000. Vanguard Group Inc. bought a new position in shares of Astera Labs during the 1st quarter worth approximately $127,268,000. Forge First Asset Management Inc. bought a new position in shares of Astera Labs during the 1st quarter worth approximately $1,143,000. Price T Rowe Associates Inc. MD bought a new position in shares of Astera Labs during the 1st quarter worth approximately $44,514,000. Finally, Jennison Associates LLC bought a new position in shares of Astera Labs during the 1st quarter worth approximately $11,283,000.

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.