Astera Labs (NASDAQ:ALAB) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Astera Labs (NASDAQ:ALAB) in a research note released on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $140.00 price objective on the stock.

A number of other research firms have also weighed in on ALAB. Barclays lifted 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. Morgan Stanley lowered their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Roth Mkm lifted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus increased their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $115.33.

Astera Labs Price Performance

NASDAQ ALAB opened at $92.04 on Tuesday. The stock’s fifty day moving average price is $122.39 and its 200 day moving average price is $82.55. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Sell-side analysts forecast that Astera Labs will post -0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the sale, the director now directly owns 6,148 shares in the company, valued at $556,455.48. This represents a 96.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Truett Tate sold 7,398 shares of Astera Labs stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $671,812.38. Following the transaction, the chief financial officer now owns 286,424 shares in the company, valued at approximately $26,010,163.44. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 846,452 shares of company stock valued at $86,427,256 in the last 90 days.

Institutional Trading of Astera Labs

Several institutional investors have recently made changes to their positions in ALAB. FMR LLC increased its stake in Astera Labs by 0.7% during the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares during the last quarter. Vanguard Group Inc. raised its holdings in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after buying an additional 7,186,582 shares during the period. Fred Alger Management LLC lifted its position in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Jennison Associates LLC purchased a new position in Astera Labs during the fourth quarter worth about $229,991,000. Finally, JPMorgan Chase & Co. increased its position 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 valued at $82,164,000 after acquiring an additional 47,569 shares during the last quarter. 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.