Astera Labs (NASDAQ:ALAB) Hits New 12-Month High – Should You Buy?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $117.26 and last traded at $116.51, with a volume of 8290921 shares. The stock had previously closed at $103.39.

Analysts Set New Price Targets

Several analysts have recently issued reports on ALAB shares. Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Craig Hallum upped their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Evercore ISI dropped their price objective on shares of Astera Labs from $98.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs currently has an average rating of “Buy” and a consensus target price of $94.67.

Astera Labs Trading Up 12.7 %

The stock has a 50 day moving average of $77.58 and a 200-day moving average of $61.40.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate 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 for the quarter was up 47.1% on a year-over-year basis. On average, analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the completion of the sale, the insider now directly owns 775,000 shares in the company, valued at approximately $74,857,250. This represents a 48.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $50.00, for a total value of $3,150,000.00. Following the transaction, the director now directly owns 506,863 shares in the company, valued at $25,343,150. The trade was a 11.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,897,820 shares of company stock valued at $168,252,298 in the last three months.

Institutional Investors Weigh In On Astera Labs

Several large investors have recently modified their holdings of ALAB. Avior Wealth Management LLC purchased a new position in Astera Labs during the third quarter valued at approximately $361,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Astera Labs in the 3rd quarter valued at $530,000. Meeder Asset Management Inc. bought a new position in shares of Astera Labs in the 3rd quarter worth $1,141,000. Bank of Hawaii purchased a new stake in shares of Astera Labs during the 3rd quarter worth $1,409,000. Finally, Maverick Capital Ltd. boosted 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 in the last quarter.

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.