Astera Labs (NASDAQ:ALAB) Stock Rating Upgraded by Northland Securities

Astera Labs (NASDAQ:ALAB) was upgraded by equities researchers at Northland Securities from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage presently has a $120.00 price target on the stock. Northland Securities’ price target points to a potential upside of 32.70% from the company’s previous close.

ALAB has been the topic of several other research reports. Roth Mkm upped their price objective on 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 Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus increased their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $107.42.

Astera Labs Stock Up 0.9 %

Shares of Astera Labs stock opened at $90.43 on Tuesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a fifty day moving average price of $122.75 and a 200-day moving average price of $79.52.

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

Insiders Place Their Bets

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total value of $4,485,000.00. Following the transaction, the director now directly owns 129,617 shares in the company, valued at approximately $11,626,644.90. This represents a 27.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the sale, the director now owns 456,863 shares of the company’s stock, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock worth $167,581,256 in the last three months.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors have recently made changes to their positions in ALAB. Strategic Blueprint LLC grew its position in Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after acquiring an additional 195 shares in the last quarter. GAMMA Investing LLC lifted its stake in Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after purchasing an additional 224 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter worth about $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after purchasing an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Astera Labs during the 4th quarter valued at about $42,000. Institutional investors own 60.47% of the company’s stock.

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.