Astera Labs (NASDAQ:ALAB) Downgraded to “Equal Weight” Rating by Morgan Stanley

Morgan Stanley downgraded shares of Astera Labs (NASDAQ:ALAB) from an overweight rating to an equal weight rating in a research report released on Tuesday morning, MarketBeat.com reports. The firm currently has $142.00 target price on the stock.

Several other research firms also recently commented on ALAB. Northland Securities downgraded Astera Labs from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $100.00 to $120.00 in a report on Thursday, January 2nd. Craig Hallum lifted their price target on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays increased their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Northland Capmk downgraded shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Citigroup assumed coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $124.41 on Tuesday. Astera Labs has a 1-year low of $36.22 and a 1-year high of $147.39. The business has a 50 day moving average of $120.38 and a 200 day moving average of $77.29.

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

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Manuel Alba sold 11,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the transaction, the director now owns 456,863 shares of the company’s stock, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock valued at $167,581,256 over the last three months.

Institutional Investors Weigh In On Astera Labs

Hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new stake in shares of Astera Labs in the third quarter worth $26,000. Geneos Wealth Management Inc. purchased a new stake in Astera Labs during the 4th quarter valued at about $36,000. ORG Wealth Partners LLC bought a new stake in Astera Labs during the 4th quarter valued at about $42,000. US Bancorp DE purchased a new position in Astera Labs in the third quarter worth about $46,000. Finally, First Horizon Advisors Inc. purchased a new position in Astera Labs in the third quarter worth about $49,000. Institutional investors own 60.47% of the company’s stock.

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.