Astera Labs, Inc. (NASDAQ:ALAB) Receives Consensus Rating of “Buy” from Brokerages

Shares of Astera Labs, Inc. (NASDAQ:ALAB) 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.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $47.13 on Wednesday. Astera Labs has a 1-year low of $45.41 and a 1-year high of $95.21. The firm’s 50-day moving average price is $60.96.

Astera Labs (NASDAQ:ALAB) 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.