Shares of Astera Labs, Inc. (NASDAQ:ALAB – Get Free Report) have received an average recommendation of “Buy” from the eleven research firms that are covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $86.09.
A number of brokerages have commented on ALAB. JPMorgan Chase & Co. began coverage on Astera Labs in a research note on Monday, April 15th. They issued an “overweight” rating and a $85.00 price target on the stock. Barclays began coverage on Astera Labs in a research note on Monday, April 15th. They issued an “overweight” rating and a $85.00 price target on the stock. Craig Hallum initiated coverage on Astera Labs in a research note on Monday, April 15th. They issued a “buy” rating and a $90.00 price target on the stock. Roth Mkm initiated coverage on Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Astera Labs in a research report on Monday, April 15th. They issued a “buy” rating and a $85.00 price objective on the stock.
Check Out Our Latest Report on Astera Labs
Astera Labs Stock Performance
Astera Labs (NASDAQ:ALAB – Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($1.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($1.62). The business had revenue of $65.26 million during the quarter, compared to analyst estimates of $56.65 million. As a group, equities analysts expect that Astera Labs will post -0.56 earnings per share for the current year.
Institutional Trading of Astera Labs
A number of hedge funds have recently modified their holdings of ALAB. Legato Capital Management LLC bought a new position in shares of Astera Labs in the 2nd quarter worth about $207,000. Alpine Global Management LLC purchased a new stake in Astera Labs in the first quarter worth about $272,000. Strategic Blueprint LLC bought a new position in shares of Astera Labs during the second quarter valued at approximately $332,000. Central Pacific Bank Trust Division purchased a new position in shares of Astera Labs during the first quarter valued at approximately $402,000. Finally, Great Valley Advisor Group Inc. bought a new stake in shares of Astera Labs in the 2nd quarter worth approximately $443,000.
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.
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