JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB) had its price target hoisted by JPMorgan Chase & Co. from $70.00 to $110.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.05% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Morgan Stanley upped their price target on Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Barclays increased their price objective on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday. Craig Hallum increased their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Roth Mkm dropped their price objective on Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $92.36.

Astera Labs Stock Up 2.4 %

Shares of NASDAQ ALAB opened at $98.17 on Tuesday. Astera Labs has a one year low of $36.22 and a one year high of $98.68. The business’s fifty day moving average price is $57.00 and its 200-day moving average price is $58.39.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue was up 47.1% on a year-over-year basis. As a group, equities analysts anticipate that Astera Labs will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $40.43, for a total value of $1,701,698.70. Following the transaction, the general counsel now directly owns 333,474 shares in the company, valued at $13,482,353.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Philip Mazzara sold 42,090 shares of the stock in a transaction dated 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 directly owns 333,474 shares in the company, valued at approximately $13,482,353.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the transaction, the insider now owns 855,000 shares in the company, valued at $38,748,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 564,458 shares of company stock worth $31,970,841 in the last ninety days.

Hedge Funds Weigh In On Astera Labs

Several institutional investors have recently modified their holdings of ALAB. Vanguard Group Inc. bought a new position in shares of Astera Labs during the 1st quarter valued at about $127,268,000. Price T Rowe Associates Inc. MD bought a new position in Astera Labs during the 1st quarter worth approximately $44,514,000. Capital World Investors bought a new position in Astera Labs during the 1st quarter worth approximately $44,514,000. Bamco Inc. NY bought a new position in Astera Labs during the 1st quarter worth approximately $37,095,000. Finally, Lord Abbett & CO. LLC bought a new position in Astera Labs during the 1st quarter worth approximately $33,141,000.

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.