Astera Labs (NASDAQ:ALAB) Price Target Raised to $125.00

Astera Labs (NASDAQ:ALAB) had its price objective lifted by Craig Hallum from $105.00 to $125.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on ALAB. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $115.33.

Astera Labs Trading Up 0.8 %

Shares of ALAB opened at $88.19 on Tuesday. The stock has a 50 day simple moving average of $121.35 and a 200 day simple moving average of $82.90. Astera Labs has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. As a group, equities research analysts anticipate that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at approximately $22,588,533.45. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 6,148 shares in the company, valued at $556,455.48. The trade was a 96.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 846,452 shares of company stock worth $86,427,256 in the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALAB. The Manufacturers Life Insurance Company acquired a new position in shares of Astera Labs during the 2nd quarter worth approximately $341,000. Truist Financial Corp acquired a new position in Astera Labs in the 2nd quarter valued at $353,000. SG Americas Securities LLC acquired a new position in Astera Labs in the 3rd quarter valued at $594,000. Renaissance Capital LLC grew its holdings in Astera Labs by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 23,760 shares of the company’s stock valued at $1,245,000 after buying an additional 3,967 shares in the last quarter. Finally, Seven Grand Managers LLC grew its holdings in Astera Labs by 25.0% in the 3rd quarter. Seven Grand Managers LLC now owns 125,000 shares of the company’s stock valued at $6,549,000 after buying an additional 25,000 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

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.