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

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned a consensus recommendation of “Buy” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $94.67.

Several research firms recently weighed in on ALAB. Barclays upped their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their price target on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus upped their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum upped their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th.

Insider Activity

In related news, CFO Michael Truett Tate sold 7,398 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $671,812.38. Following the completion of the sale, the chief financial officer now owns 286,424 shares in the company, valued at $26,010,163.44. This represents a 2.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the sale, the chief executive officer now owns 728,420 shares of the company’s stock, valued at approximately $51,178,789.20. The trade was a 6.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,736,640 shares of company stock valued at $147,545,808.

Institutional Trading of Astera Labs

Several hedge funds have recently added to or reduced their stakes in the business. Avior Wealth Management LLC bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $361,000. Sei Investments Co. bought a new stake in shares of Astera Labs in the 1st quarter worth approximately $952,000. Meeder Asset Management Inc. bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $1,141,000. Bank of Hawaii bought a new stake in shares of Astera Labs in the 3rd quarter worth approximately $1,409,000. Finally, Vanguard Group Inc. bought a new stake in shares of Astera Labs in the 1st quarter worth approximately $127,268,000.

Astera Labs Stock Up 4.9 %

Shares of NASDAQ ALAB opened at $107.31 on Tuesday. Astera Labs has a 12 month low of $36.22 and a 12 month high of $113.85. The business has a fifty day simple moving average of $70.87 and a 200-day simple moving average of $60.05.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm’s revenue was up 47.1% compared to the same quarter last year. Equities research analysts forecast that Astera Labs will post -0.45 EPS for the current year.

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.