Barclays Forecasts Strong Price Appreciation for Astera Labs (NASDAQ:ALAB) Stock

Astera Labs (NASDAQ:ALAB) had its price target boosted by equities researchers at Barclays from $87.00 to $135.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 5.55% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Craig Hallum raised their target price on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Northland Capmk cut Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Morgan Stanley upped their target price on shares of Astera Labs from $94.00 to $142.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Northland Securities downgraded shares of Astera Labs from an “outperform” rating to a “market perform” rating and lifted their price target for the company from $100.00 to $120.00 in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $109.75.

Astera Labs Trading Down 2.9 %

ALAB opened at $127.90 on Friday. The firm’s fifty day moving average price is $118.21 and its two-hundred day moving average price is $75.65. Astera Labs has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued 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. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. Astera Labs’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, sell-side analysts anticipate that Astera Labs will post -0.45 EPS for the current fiscal year.

Insider Activity at Astera Labs

In other news, insider Sanjay Gajendra sold 740,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now owns 775,000 shares of the company’s stock, valued at $74,857,250. This represents a 48.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at approximately $65,109,499.35. The trade was a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock valued at $167,581,256 over the last quarter.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Fred Alger Management LLC raised its stake in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Astera Labs during the 3rd quarter worth $52,049,000. The Manufacturers Life Insurance Company raised its position in shares of Astera Labs by 15,477.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after acquiring an additional 873,412 shares during the last quarter. Spyglass Capital Management LLC acquired a new position in shares of Astera Labs in the 3rd quarter valued at $38,565,000. Finally, State Street Corp boosted its position in shares of Astera Labs by 173.1% in the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after purchasing an additional 442,698 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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.