Morgan Stanley Has Lowered Expectations for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its target price dropped by equities researchers at Morgan Stanley from $142.00 to $114.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 26.06% from the company’s current price.

ALAB has been the subject of a number of other research reports. Northland Capmk downgraded shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Craig Hallum raised their price objective on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Roth Mkm boosted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Citigroup began 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. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $107.42.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $90.43 on Tuesday. The stock’s fifty day moving average price is $122.75 and its 200-day moving average price is $79.52. Astera Labs has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its 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. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities research analysts forecast that Astera Labs will post -0.45 earnings per share for the current year.

Insider Activity

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the sale, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. The trade was a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total value 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. This represents a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,690,452 shares of company stock worth $167,581,256 over the last 90 days.

Institutional Investors Weigh In On Astera Labs

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its position in Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after buying an additional 153,491 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Astera Labs in the fourth quarter worth $229,991,000. JPMorgan Chase & Co. raised its holdings in shares of Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after purchasing an additional 47,569 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the period. Institutional investors and hedge funds 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.