Astera Labs (NASDAQ:ALAB) Hits New 12-Month High – Time to Buy?

Astera Labs, Inc. (NASDAQ:ALAB) shares reached a new 52-week high on Monday . The company traded as high as $133.75 and last traded at $133.75, with a volume of 22325 shares. The stock had previously closed at $132.14.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALAB. Craig Hallum increased their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays raised their target price on Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Roth Mkm upped their price target on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus upped their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average price target of $94.67.

Astera Labs Stock Down 1.9 %

The stock’s fifty day moving average price is $91.69 and its 200-day moving average price is $65.11.

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 net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs’s revenue was up 47.1% compared to the same quarter last year. Sell-side analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the sale, the director now owns 129,617 shares of the company’s stock, valued at $11,626,644.90. This trade represents a 27.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack R. Lazar sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $69.95, for a total transaction 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 represents a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,078,119 shares of company stock worth $191,630,349 in the last 90 days.

Institutional Investors Weigh In On Astera Labs

A number of institutional investors have recently made changes to their positions in ALAB. Tidal Investments LLC lifted its holdings in Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Astera Labs in the third quarter valued at about $203,000. Geode Capital Management LLC grew its stake in shares of Astera Labs by 0.8% in the third quarter. Geode Capital Management LLC now owns 444,887 shares of the company’s stock valued at $23,312,000 after acquiring an additional 3,628 shares in the last quarter. M&T Bank Corp bought a new position in Astera Labs during the third quarter worth about $322,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Astera Labs in the 3rd quarter worth about $3,425,000. Institutional investors 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.