Brokerages Set Astera Labs, Inc. (NASDAQ:ALAB) PT at $107.42

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have received a consensus recommendation of “Buy” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $115.33.

A number of research firms have weighed in on ALAB. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. Barclays upped 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. Craig Hallum lifted their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday. Finally, Morgan Stanley lowered their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th.

Astera Labs Stock Down 10.9 %

ALAB opened at $92.04 on Friday. Astera Labs has a 52 week low of $36.22 and a 52 week high of $147.39. The business’s 50 day moving average is $122.39 and its two-hundred day moving average is $82.55.

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

Insider Buying and Selling at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the transaction, the director now owns 6,148 shares in the company, valued at $556,455.48. This trade represents a 96.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs 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 transaction, the chief financial officer now directly 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 846,452 shares of company stock valued at $86,427,256.

Institutional Trading of Astera Labs

Several large investors have recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs during the 4th quarter worth about $25,000. Hollencrest Capital Management acquired a new stake in shares of Astera Labs during the 3rd quarter worth about $26,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new position in shares of Astera Labs in the fourth quarter valued at approximately $28,000. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs during the fourth quarter valued at approximately $36,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.