Astera Labs (NASDAQ:ALAB) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Astera Labs (NASDAQ:ALAB) had its price target hoisted by research analysts at Stifel Nicolaus from $80.00 to $100.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 1.86% from the company’s previous close.

Several other equities analysts have also issued reports on ALAB. Needham & Company LLC reissued a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Roth Mkm cut their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Evercore ISI cut their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. cut their price objective on shares of Astera Labs from $95.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Morgan Stanley lifted their price objective on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $92.36.

Astera Labs Stock Up 2.4 %

Shares of NASDAQ:ALAB opened at $98.17 on Tuesday. The firm’s 50 day simple moving average is $57.00 and its 200-day simple moving average is $58.39. Astera Labs has a one year low of $36.22 and a one year high of $98.68.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company 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% compared to the same quarter last year. As a group, equities analysts expect that Astera Labs will post -0.54 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 42,090 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the transaction, the general counsel now owns 333,474 shares of the company’s stock, valued at $13,482,353.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Astera Labs news, Director Jack R. Lazar sold 3,000 shares of Astera Labs stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the completion of the transaction, the director now owns 137,000 shares of the company’s stock, valued at approximately $8,451,530. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the transaction, the general counsel now directly owns 333,474 shares of the company’s stock, valued at $13,482,353.82. 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 valued at $31,970,841 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new stake in shares of Astera Labs during the first quarter worth about $952,000. Vanguard Group Inc. purchased a new stake in shares of Astera Labs during the first quarter worth about $127,268,000. Forge First Asset Management Inc. purchased a new stake in shares of Astera Labs during the first quarter worth about $1,143,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Astera Labs during the first quarter worth about $44,514,000. Finally, Jennison Associates LLC purchased a new stake in shares of Astera Labs during the first quarter worth about $11,283,000.

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.