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

Shares of Astera Labs, Inc. (NASDAQ:ALAB) have been assigned an average recommendation of “Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. Twelve research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $98.67.

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Astera Labs in a research note on Wednesday, October 9th. Barclays raised their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Citigroup assumed coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $141.53 on Friday. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.36. The company’s 50-day moving average is $103.02 and its two-hundred day moving average is $69.12.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The business’s quarterly revenue was up 47.1% on a year-over-year basis. Analysts forecast that Astera Labs will post -0.45 earnings per share for the current fiscal year.

Insider Activity at Astera Labs

In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the completion of the sale, the director now owns 135,000 shares of the company’s stock, valued at $9,443,250. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the sale, the chief financial officer now owns 1,412,888 shares in the company, valued at $166,494,721.92. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,978,119 shares of company stock worth $186,618,509.

Institutional Investors Weigh In On Astera Labs

A number of large investors have recently added to or reduced their stakes in ALAB. Tidal Investments LLC boosted its position in Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after buying an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Astera Labs in the third quarter worth about $530,000. Avior Wealth Management LLC purchased a new position in Astera Labs in the third quarter valued at about $361,000. Maverick Capital Ltd. grew its stake in Astera Labs by 16.0% during the 3rd 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. Finally, Meeder Asset Management Inc. purchased a new stake in Astera Labs during the 3rd quarter worth approximately $1,141,000. 60.47% of the stock is owned by institutional investors and hedge funds.

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.