Northland Capmk Downgrades Astera Labs (NASDAQ:ALAB) to Hold

Astera Labs (NASDAQ:ALAB) was downgraded by analysts at Northland Capmk from a “strong-buy” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Morgan Stanley increased their target price on Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Barclays boosted their price objective on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Roth Mkm raised their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Craig Hallum raised their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus upped their price objective on shares of Astera Labs from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Astera Labs currently has an average rating of “Moderate Buy” and a consensus price target of $101.58.

Astera Labs Trading Up 4.7 %

Shares of Astera Labs stock opened at $140.93 on Thursday. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.36. The stock has a 50-day simple moving average of $108.26 and a 200-day simple moving average of $71.06.

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

Insider Buying and Selling at Astera Labs

In related news, Director Manuel Alba sold 11,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the sale, the director now owns 456,863 shares in the company, valued at $53,681,402.50. This represents a 2.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Truett Tate sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,978,119 shares of company stock worth $186,618,509.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after purchasing an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Astera Labs in the third quarter valued at approximately $530,000. Avior Wealth Management LLC acquired a new stake in Astera Labs during the 3rd quarter valued at $361,000. Maverick Capital Ltd. lifted its stake in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after buying an additional 159,480 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Astera Labs during the third quarter worth approximately $1,141,000. Institutional investors own 60.47% of the company’s stock.

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.