Astera Labs (NASDAQ:ALAB) Upgraded at Northland Capmk

Astera Labs (NASDAQ:ALAB) was upgraded by investment analysts at Northland Capmk from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Morgan Stanley lowered their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday. Roth Mkm raised their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Citigroup initiated coverage on shares of Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Finally, Stifel Nicolaus raised their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Astera Labs presently has an average rating of “Buy” and a consensus price target of $107.42.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $89.63 on Tuesday. The company’s fifty day moving average is $122.86 and its two-hundred day moving average is $79.28. Astera Labs has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly 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. 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 analysts’ expectations of $97.50 million. Astera Labs’s quarterly revenue was up 47.1% on a year-over-year basis. On average, equities research analysts forecast that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. This trade represents a 21.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the sale, the general counsel now owns 248,745 shares in the company, valued at approximately $22,588,533.45. This represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,690,452 shares of company stock worth $167,581,256.

Institutional Investors Weigh In On Astera Labs

Institutional investors have recently bought and sold shares of the business. Fred Alger Management LLC raised its stake in shares of 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. Jennison Associates LLC acquired a new position in Astera Labs in the fourth quarter worth about $229,991,000. Westfield Capital Management Co. LP bought a new position in Astera Labs during the third quarter worth about $52,049,000. The Manufacturers Life Insurance Company lifted its stake in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after purchasing an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC bought a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $38,565,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.