Astera Labs (NASDAQ:ALAB) Sets New 1-Year High – Here’s Why

Astera Labs, Inc. (NASDAQ:ALAB)’s share price reached a new 52-week high on Thursday . The company traded as high as $101.81 and last traded at $101.81, with a volume of 106193 shares. The stock had previously closed at $97.42.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALAB shares. Roth Mkm raised their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. 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, November 5th. Craig Hallum upped their target price on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus raised their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $94.67.

Astera Labs Stock Performance

The stock has a 50-day simple moving average of $69.60 and a 200 day simple moving average of $59.97.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue was up 47.1% on a year-over-year basis. Equities analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In related news, insider Sanjay Gajendra sold 76,701 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the transaction, the insider now owns 855,000 shares of the company’s stock, valued at approximately $38,748,600. This represents a 8.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the sale, the director now directly owns 6,148 shares in the company, valued at approximately $556,455.48. The trade was a 96.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,573,576 shares of company stock worth $130,180,512.

Hedge Funds Weigh In On Astera Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALAB. FMR LLC boosted its stake in Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after purchasing an additional 153,491 shares during the last quarter. Fred Alger Management LLC grew its stake in Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. Vanguard Group Inc. acquired a new stake in Astera Labs in the 1st quarter valued at about $127,268,000. Maverick Capital Ltd. lifted its stake in Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after purchasing an additional 159,480 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Astera Labs during the 3rd quarter worth approximately $52,049,000.

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.