Astera Labs (NASDAQ:ALAB) Price Target Raised to $150.00 at Stifel Nicolaus

Astera Labs (NASDAQ:ALAB) had its price objective lifted by Stifel Nicolaus from $100.00 to $150.00 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also commented on ALAB. Citigroup assumed coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Northland Securities cut shares of Astera Labs from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $100.00 to $120.00 in a research note on Thursday, January 2nd. Barclays lifted their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley raised their target price on Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Astera Labs has an average rating of “Moderate Buy” and an average price target of $105.75.

Astera Labs Trading Up 1.9 %

Shares of NASDAQ:ALAB opened at $143.64 on Monday. The firm’s 50-day moving average is $111.04 and its 200 day moving average is $72.22. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39.

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

Insider Buying and Selling

In other news, CEO Jitendra Mohan sold 47,667 shares of Astera Labs stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the sale, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at approximately $51,178,789.20. The trade was a 6.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $62.03, for a total transaction of $6,203,000.00. Following the sale, the chief financial officer now owns 1,762,888 shares in the company, valued at $109,351,942.64. This trade represents a 5.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,978,119 shares of company stock worth $186,618,509.

Institutional Trading of Astera Labs

A number of large investors have recently made changes to their positions in the company. Tidal Investments LLC grew its stake in shares of Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astera Labs during the third quarter worth about $530,000. Avior Wealth Management LLC purchased a new stake in shares of Astera Labs in the third quarter valued at approximately $361,000. Maverick Capital Ltd. lifted its holdings in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares during the period. Finally, State Street Corp increased its holdings in Astera Labs by 173.1% in the third quarter. State Street Corp now owns 698,467 shares of the company’s stock valued at $36,593,000 after buying an additional 442,698 shares in the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

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.