Astera Labs (NASDAQ:ALAB) Given New $135.00 Price Target at Barclays

Astera Labs (NASDAQ:ALAB) had its target price hoisted by Barclays from $87.00 to $135.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also recently commented on the stock. Roth Mkm increased their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Craig Hallum increased their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of Astera Labs in a report on Wednesday, October 9th. Stifel Nicolaus upped their target price on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Citigroup initiated coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.75.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $133.30 on Friday. The stock’s 50-day moving average is $118.88 and its 200-day moving average is $76.01. Astera Labs has a one year low of $36.22 and a one year high of $147.39.

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

Insider Transactions at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $11,626,644.90. This trade represents a 27.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Manuel Alba sold 12,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $94.74, for a total transaction of $1,136,880.00. Following the completion of the transaction, the director now owns 483,863 shares in the company, valued at approximately $45,841,180.62. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Trading of Astera Labs

Several hedge funds have recently added to or reduced their stakes in the company. Fred Alger Management LLC grew its holdings in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after buying an additional 2,628,765 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Astera Labs in the third quarter valued at about $52,049,000. The Manufacturers Life Insurance Company grew its stake in shares of Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after acquiring an additional 873,412 shares in the last quarter. Spyglass Capital Management LLC bought a new position in Astera Labs during the third quarter worth about $38,565,000. Finally, State Street Corp raised its stake in Astera Labs by 173.1% in the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after purchasing an additional 442,698 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.