Astera Labs (NASDAQ:ALAB) Cut to “Market Perform” at Northland Securities

Northland Securities cut shares of Astera Labs (NASDAQ:ALAB) from an outperform rating to a market perform rating in a research report released on Thursday morning, MarketBeat reports. They currently have $120.00 target price on the stock, up from their previous target price of $100.00.

Other research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price objective 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. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Morgan Stanley upped their price objective on Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Barclays raised their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Astera Labs has a consensus rating of “Moderate Buy” and a consensus price target of $101.58.

Astera Labs Stock Performance

ALAB stock opened at $140.93 on Thursday. The firm’s 50-day moving average price is $109.63 and its two-hundred day moving average price is $71.59. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.36.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. 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 other Astera Labs news, CFO Michael Truett Tate sold 16,000 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the sale, the director now owns 129,617 shares of the company’s stock, valued at approximately $11,626,644.90. This trade represents a 27.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,978,119 shares of company stock valued at $186,618,509.

Institutional Trading of Astera Labs

Several institutional investors and hedge funds have recently bought and sold shares of ALAB. Hollencrest Capital Management acquired a new stake in Astera Labs in the third quarter valued at approximately $26,000. US Bancorp DE acquired a new stake in shares of Astera Labs in the 3rd quarter worth $46,000. First Horizon Advisors Inc. acquired a new stake in Astera Labs during the third quarter worth about $49,000. Allworth Financial LP raised its position in shares of Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after buying an additional 891 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares during the last quarter. 60.47% of the stock is currently 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.