Craig Hallum Issues Positive Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its price target upped by research analysts at Craig Hallum from $105.00 to $125.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 31.70% from the company’s previous close.

ALAB has been the topic of a number of other research reports. Barclays upped their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Stifel Nicolaus increased their price target on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Morgan Stanley dropped their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average price target of $115.33.

Astera Labs Stock Down 8.1 %

Shares of ALAB stock traded down $8.38 during trading hours on Tuesday, hitting $94.91. 8,571,535 shares of the company were exchanged, compared to its average volume of 5,225,633. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39. The business has a 50 day moving average of $122.39 and a two-hundred day moving average of $82.55.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. As a group, equities research analysts predict that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In related news, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the transaction, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 2,513 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 846,452 shares of company stock valued at $86,427,256.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALAB. TD Private Client Wealth LLC purchased a new stake in shares of Astera Labs during the fourth quarter worth $148,000. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the 4th quarter worth about $25,000. Berkshire Capital Holdings Inc. purchased a new position in Astera Labs during the 4th quarter valued at about $16,073,000. Harvest Fund Management Co. Ltd bought a new stake in Astera Labs during the 4th quarter worth approximately $629,000. Finally, Maryland State Retirement & Pension System purchased a new stake in shares of Astera Labs in the fourth quarter worth $765,000. Hedge funds and other 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.