Astera Labs, Inc. (NASDAQ:ALAB) Receives Average Rating of “Buy” from Brokerages

Astera Labs, Inc. (NASDAQ:ALAB) has been assigned an average recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have covered the stock in the last year is $73.09.

ALAB has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of Astera Labs in a report on Wednesday. JPMorgan Chase & Co. decreased their target price on Astera Labs from $95.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Roth Mkm decreased their price objective on shares of Astera Labs from $85.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Barclays lowered their target price on shares of Astera Labs from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th.

Astera Labs Stock Up 0.9 %

NASDAQ ALAB opened at $66.69 on Monday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $95.21. The business’s fifty day moving average is $45.36 and its two-hundred day moving average is $58.66.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $76.90 million for the quarter, compared to analysts’ expectations of $72.41 million. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities analysts anticipate that Astera Labs will post -0.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now owns 855,000 shares in the company, valued at $38,748,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Astera Labs news, General Counsel Philip Mazzara sold 42,090 shares of Astera Labs stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $40.43, for a total transaction of $1,701,698.70. Following the completion of the sale, the general counsel now owns 333,474 shares of the company’s stock, valued at approximately $13,482,353.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the completion of the transaction, the insider now directly owns 855,000 shares in the company, valued at approximately $38,748,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 404,791 shares of company stock valued at $20,840,158 over the last three months.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. acquired a new stake in shares of Astera Labs during the first quarter worth about $127,268,000. Capital World Investors bought a new position in Astera Labs in the first quarter valued at approximately $44,514,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Astera Labs in the first quarter valued at approximately $44,514,000. Bamco Inc. NY bought a new stake in shares of Astera Labs during the first quarter worth $37,095,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Astera Labs during the first quarter worth $33,141,000.

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.