Astera Labs (NASDAQ:ALAB) Research Coverage Started at Raymond James

Raymond James assumed coverage on shares of Astera Labs (NASDAQ:ALAB) in a research note published on Friday, Marketbeat reports. The firm issued an outperform rating and a $82.00 price objective on the stock.

ALAB has been the subject of a number of other research reports. Craig Hallum upped their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley decreased their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Citigroup started coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Finally, Barclays upped their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and a consensus price target of $112.77.

Astera Labs Trading Up 10.5 %

NASDAQ ALAB opened at $72.18 on Friday. The stock has a 50-day simple moving average of $97.61 and a 200 day simple moving average of $88.63. The company has a market capitalization of $11.70 billion and a PE ratio of -41.72. 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, 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 21.05% and a negative return on equity of 10.40%. As a group, sell-side analysts predict that Astera Labs will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the sale, the general counsel now owns 241,209 shares of the company’s stock, valued at $22,208,112.63. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 570,990 shares of company stock valued at $50,242,702.

Institutional Investors Weigh In On Astera Labs

Several hedge funds have recently modified their holdings of the company. FMR LLC boosted its holdings in shares of Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after acquiring an additional 153,491 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Astera Labs by 354.9% during the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after acquiring an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. Fred Alger Management LLC raised its position in Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after purchasing an additional 792,153 shares during the last quarter. Institutional investors and hedge funds 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.