Astera Labs, Inc. (NASDAQ:ALAB) Receives $115.33 Average PT from Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have received an average rating of “Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $115.33.

A number of equities research analysts have issued reports on ALAB shares. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Citigroup started coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Barclays raised their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Morgan Stanley lowered their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This represents a 2.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 570,990 shares of company stock worth $50,242,702.

Hedge Funds Weigh In On Astera Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Astera Labs in the fourth quarter worth about $18,209,000. Ameriflex Group Inc. purchased a new stake in shares of Astera Labs in the fourth quarter worth $144,000. Warm Springs Advisors Inc. bought a new position in shares of Astera Labs during the fourth quarter valued at $3,311,000. GF Fund Management CO. LTD. purchased a new position in shares of Astera Labs in the 4th quarter worth about $265,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Astera Labs by 364.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 37,145 shares of the company’s stock worth $4,920,000 after purchasing an additional 29,145 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $61.70 on Thursday. The stock has a market capitalization of $10.00 billion and a PE ratio of -35.66. Astera Labs has a one year low of $36.22 and a one year high of $147.39. The business’s fifty day moving average price is $102.97 and its 200-day moving average price is $87.93.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. As a group, equities analysts expect that Astera Labs will post 0.34 EPS for the current fiscal year.

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.