Astera Labs (NASDAQ:ALAB) Trading Up 4.8% – Time to Buy?

Astera Labs, Inc. (NASDAQ:ALAB)’s share price was up 4.8% during trading on Wednesday . The company traded as high as $124.50 and last traded at $123.81. Approximately 386,402 shares changed hands during trading, a decline of 88% from the average daily volume of 3,216,998 shares. The stock had previously closed at $118.17.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Roth Mkm lifted their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Craig Hallum raised their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $94.67.

Astera Labs Price Performance

The business’s 50-day moving average price is $87.04 and its two-hundred day moving average price is $63.85.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 47.1% compared to the same quarter last year. Analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insiders Place Their Bets

In other Astera Labs news, Director Jack R. Lazar sold 2,000 shares of the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $69.95, for a total value of $139,900.00. Following the sale, the director now owns 135,000 shares of the company’s stock, valued at approximately $9,443,250. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the transaction, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,154,820 shares of company stock worth $195,106,438 over the last ninety days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new position in Astera Labs during the 3rd quarter worth approximately $26,000. US Bancorp DE bought a new stake in shares of Astera Labs during the third quarter worth $46,000. First Horizon Advisors Inc. acquired a new position in shares of Astera Labs during the third quarter worth $49,000. Allworth Financial LP lifted its stake in shares of Astera Labs by 445.5% in the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock valued at $57,000 after acquiring an additional 891 shares during the last quarter. Finally, Amalgamated Bank acquired a new stake in shares of Astera Labs during the 2nd quarter valued at $74,000. Institutional investors own 60.47% of the company’s stock.

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.