Astera Labs (NASDAQ:ALAB) Stock Price Expected to Rise, Craig Hallum Analyst Says

Astera Labs (NASDAQ:ALAB) had its price target raised by stock analysts at Craig Hallum from $75.00 to $105.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price target indicates a potential upside of 6.96% from the stock’s previous close.

ALAB has been the topic of several other reports. Deutsche Bank Aktiengesellschaft raised 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. Morgan Stanley lifted their price target on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Evercore ISI lowered their price objective on Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, Roth Mkm lowered their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $92.36.

Astera Labs Trading Up 2.4 %

ALAB stock opened at $98.17 on Tuesday. The business’s fifty day moving average price is $57.00 and its two-hundred day moving average price is $58.39. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $98.68.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% on a year-over-year basis. Equities analysts predict that Astera Labs will post -0.54 EPS for the current fiscal year.

Insider Activity

In other news, insider Sanjay Gajendra sold 110,000 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $69.47, for a total transaction of $7,641,700.00. Following the completion of the sale, the insider now owns 835,000 shares in the company, valued at $58,007,450. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the transaction, the general counsel now owns 333,474 shares of the company’s stock, valued at $13,482,353.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.47, for a total value of $7,641,700.00. Following the transaction, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 564,458 shares of company stock worth $31,970,841 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new position in Astera Labs in the third quarter worth $26,000. US Bancorp DE purchased a new position in Astera Labs in the third quarter worth $46,000. Allworth Financial LP boosted its position in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after purchasing an additional 891 shares during the last quarter. Amalgamated Bank purchased a new position in Astera Labs in the second quarter worth $74,000. Finally, Venturi Wealth Management LLC boosted its position in Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares during the last quarter.

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.