Roth Mkm Issues Positive Forecast for Astera Labs (NASDAQ:ALAB) Stock Price

Astera Labs (NASDAQ:ALAB) had its price objective hoisted by Roth Mkm from $80.00 to $105.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently commented on ALAB. Stifel Nicolaus raised their target price on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday. Craig Hallum upped their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Finally, Morgan Stanley increased their price objective on shares of Astera Labs from $55.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $92.36.

Astera Labs Stock Performance

NASDAQ ALAB opened at $95.91 on Tuesday. The company has a fifty day moving average of $55.90 and a 200 day moving average of $58.11. Astera Labs has a 1 year low of $36.22 and a 1 year high of $97.35.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. As a group, analysts predict that Astera Labs will post -0.54 EPS for the current year.

Insider Buying and Selling at Astera Labs

In other news, Director Jack R. Lazar sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $61.69, for a total value of $185,070.00. Following the transaction, the director now directly owns 137,000 shares in the company, valued at approximately $8,451,530. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Sanjay Gajendra sold 110,000 shares of Astera Labs stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.47, for a total value of $7,641,700.00. Following the completion of the transaction, the insider now directly owns 835,000 shares in the company, valued at approximately $58,007,450. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack R. Lazar sold 3,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $61.69, for a total value of $185,070.00. Following the sale, the director now owns 137,000 shares in the company, valued at approximately $8,451,530. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 564,458 shares of company stock worth $31,970,841 over the last three months.

Hedge Funds Weigh In On Astera Labs

A number of institutional investors and hedge funds have recently made changes to their positions in ALAB. Oppenheimer Asset Management Inc. acquired a new stake in Astera Labs in the third quarter valued at approximately $751,000. Rakuten Securities Inc. purchased a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $291,000. Venturi Wealth Management LLC lifted its position in shares of Astera Labs by 26.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock worth $126,000 after purchasing an additional 500 shares during the last quarter. Lisanti Capital Growth LLC grew its stake in shares of Astera Labs by 99.2% during the third quarter. Lisanti Capital Growth LLC now owns 59,990 shares of the company’s stock worth $3,143,000 after purchasing an additional 29,875 shares in the last quarter. Finally, TimesSquare Capital Management LLC increased its holdings in Astera Labs by 158,424.1% in the third quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock valued at $16,859,000 after buying an additional 321,601 shares during the last quarter.

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.