Astera Labs’ (ALAB) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Astera Labs (NASDAQ:ALAB) in a research note released on Tuesday morning,Benzinga reports. They currently have a $140.00 price target on the stock.

Several other equities analysts also recently issued reports on ALAB. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Craig Hallum upped their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Barclays upped their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. 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 report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Astera Labs has a consensus rating of “Buy” and a consensus target price of $115.33.

Astera Labs Price Performance

Shares of ALAB opened at $88.19 on Tuesday. Astera Labs has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a fifty day moving average of $121.35 and a 200-day moving average of $82.90.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Analysts expect that Astera Labs will post -0.45 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 2,513 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the sale, the general counsel now owns 248,745 shares in the company, valued at approximately $22,588,533.45. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 171,064 shares of the business’s 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 sale, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. The trade was a 21.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 846,452 shares of company stock valued at $86,427,256.

Institutional Trading of Astera Labs

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in Astera Labs during the 4th quarter worth about $26,596,000. NewEdge Advisors LLC acquired a new position in shares of Astera Labs in the 4th quarter valued at about $63,000. Guggenheim Capital LLC acquired a new position in shares of Astera Labs in the 4th quarter valued at about $1,788,000. XTX Topco Ltd acquired a new position in shares of Astera Labs in the 4th quarter valued at about $346,000. Finally, Mariner LLC acquired a new position in shares of Astera Labs in the 4th quarter valued at about $781,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

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.