Astera Labs (NASDAQ:ALAB) Sets New 52-Week High – Still a Buy?

Astera Labs, Inc. (NASDAQ:ALAB)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $117.26 and last traded at $116.51, with a volume of 8290921 shares. The stock had previously closed at $103.39.

Analyst Upgrades and Downgrades

ALAB has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley boosted their price target on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm upped their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays lifted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $94.67.

Astera Labs Price Performance

The company has a 50-day moving average price of $80.04 and a two-hundred day moving average price of $62.15.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) 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 analyst estimates of $97.50 million. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Activity

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the completion of the sale, the insider now owns 855,000 shares in the company, valued at approximately $38,748,600. The trade was a 8.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Manuel Alba sold 63,000 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the completion of the transaction, the director now directly owns 506,863 shares in the company, valued at $25,343,150. This trade represents a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,127,820 shares of company stock worth $191,928,498 in the last three months.

Institutional Trading of Astera Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC boosted its position in shares of Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after buying an additional 20,388 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Astera Labs during the 3rd quarter valued at $203,000. Geode Capital Management LLC boosted its holdings in Astera Labs by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 444,887 shares of the company’s stock worth $23,312,000 after acquiring an additional 3,628 shares during the last quarter. M&T Bank Corp purchased a new position in Astera Labs during the 3rd quarter worth $322,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Astera Labs in the 3rd quarter worth $3,425,000.

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.