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

Astera Labs (NASDAQ:ALAB) had its target price hoisted by Morgan Stanley from $94.00 to $142.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 7.44% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Roth Mkm increased their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus increased their target price on shares of Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Needham & Company LLC reissued a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $98.67.

Astera Labs Stock Up 5.5 %

Shares of ALAB stock opened at $132.17 on Friday. Astera Labs has a 52-week low of $36.22 and a 52-week high of $136.39. The company has a 50-day simple moving average of $95.41 and a two-hundred day simple moving average of $66.44.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. Astera Labs’s revenue was up 47.1% compared to the same quarter last year. Equities research analysts predict that Astera Labs will post -0.45 earnings per share for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 47,667 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $70.26, for a total value of $3,349,083.42. Following the completion of the transaction, the chief executive officer now directly owns 728,420 shares of the company’s stock, valued at $51,178,789.20. This trade represents a 6.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Manuel Alba sold 37,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $50.32, for a total transaction of $1,861,840.00. Following the completion of the transaction, the director now directly owns 498,863 shares in the company, valued at approximately $25,102,786.16. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,015,119 shares of company stock valued at $188,480,349.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management bought a new stake in Astera Labs during the third quarter worth about $26,000. US Bancorp DE purchased a new position in shares of Astera Labs during the 3rd quarter valued at about $46,000. First Horizon Advisors Inc. bought a new stake in Astera Labs in the 3rd quarter worth approximately $49,000. Allworth Financial LP boosted its stake in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares in the last quarter. Finally, Amalgamated Bank bought a new position in Astera Labs during the second quarter valued at approximately $74,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

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.