Astera Labs, Inc. (NASDAQ:ALAB) Given Average Rating of “Moderate Buy” by Brokerages

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $105.75.

Several equities research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Northland Capmk downgraded Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, Roth Mkm boosted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th.

Insider Buying and Selling

In other news, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the transaction, the chief executive officer now directly owns 628,895 shares in the company, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction on 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 owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,690,452 shares of company stock valued at $167,581,256 over the last 90 days.

Institutional Trading of Astera Labs

Institutional investors have recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of Astera Labs during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC purchased a new position in Astera Labs in the fourth quarter worth $42,000. US Bancorp DE acquired a new position in shares of Astera Labs during the third quarter worth $46,000. First Horizon Advisors Inc. purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $49,000. Finally, Allworth Financial LP boosted its position in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Up 1.0 %

NASDAQ ALAB opened at $128.45 on Wednesday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39. The company has a fifty day moving average of $117.53 and a two-hundred day moving average of $75.25.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. Equities analysts anticipate that Astera Labs will post -0.45 EPS for the current fiscal year.

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.