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

Astera Labs, Inc. (NASDAQ:ALAB) has been given an average rating of “Buy” by the fourteen research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $112.77.

Several research analysts recently weighed in on ALAB shares. Raymond James started coverage on Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Stifel Nicolaus boosted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Morgan Stanley dropped their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th.

Astera Labs Trading Down 3.2 %

Shares of ALAB stock opened at $60.78 on Monday. Astera Labs has a twelve month low of $36.22 and a twelve month high of $147.39. The company’s 50-day moving average price is $85.00 and its 200-day moving average price is $90.54. The stock has a market cap of $9.86 billion and a price-to-earnings ratio of -35.13.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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, equities research analysts predict that Astera Labs will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In other news, CFO Michael Truett Tate sold 125,800 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 570,990 shares of company stock worth $50,242,702.

Institutional Trading of Astera Labs

Institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC raised its stake in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the fourth quarter worth about $25,000. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth about $28,000. GAMMA Investing LLC lifted its holdings in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Astera Labs by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after purchasing an additional 237 shares during the period. 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.