Astera Labs (NASDAQ:ALAB) Price Target Raised to $142.00

Astera Labs (NASDAQ:ALAB) had its price target upped by Morgan Stanley from $94.00 to $142.00 in a report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays increased their price target on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a research report on Wednesday, October 9th. Craig Hallum boosted their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $98.67.

Astera Labs Price Performance

NASDAQ ALAB opened at $132.17 on Friday. Astera Labs has a one year low of $36.22 and a one year high of $136.39. The company’s 50-day simple moving average is $95.41 and its two-hundred day simple moving average is $66.44.

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

Insider Activity

In related news, insider Sanjay Gajendra sold 740,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the completion of the transaction, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. The trade was a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction dated Friday, October 11th. The stock was 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 directly owns 728,420 shares in the company, valued at $51,178,789.20. This represents a 6.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,978,119 shares of company stock valued at $186,618,509.

Institutional Trading of Astera Labs

A number of hedge funds have recently modified their holdings of ALAB. Hollencrest Capital Management acquired a new position in shares of Astera Labs in the 3rd quarter valued at $26,000. US Bancorp DE purchased a new position in Astera Labs in the third quarter valued at $46,000. First Horizon Advisors Inc. acquired a new position in shares of Astera Labs in the third quarter worth about $49,000. Allworth Financial LP boosted its stake in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after acquiring an additional 891 shares in the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Astera Labs during the 2nd quarter valued at about $74,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

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.